If I was asked "How would the stock market future react to news that Trump was vindicated?" I would have guessed up, and perhaps hugely so.

Tonight, with the stock market futures down, it seems the market already factored in the fact that the Trump-Russia investigation was all bullsh*t.

In case you disagree, please see Mueller Report Synopsis: "No Evidence of Collusion Between Trump and Russia".

It's not that investors or the market gets everything right as absurd euphoria in 2000, 2007, and 2018 shows. Rather we have another huge warning signal that good news no longer matters.

We already had a hint of that if one looks at the three-day reaction following the latest lovey-dovey Fed FOMC meeting.