With the stock market being bullish after the midterm elections, then technically the VIX should drop like a rock. It did drop like a rock but left an open gap in its wake. In the short term, the VIX could soar, closing off the gap but then resume another leg down. This leg down is just part of a correction which could end up being another zigzag as well. The stock bulls came out forecasting another huge move to the upside, but I don’t see it that way at this time. The VIX had its low in January 2018 at the $9 price level, so the VIX has been in a bull market since then.
The midterm elections went about as expected with the Republicans losing ground. It will definitely make it harder for President Trump to push through any agendas he has. In the end, if we relied on politics and fear to make investment decisions, then chances are good those decisions will not work out.