I'm just a little confused about this though. If everyone thinks the market will decline due to Trump, then doesn't the market actually decline? What I'm saying is that apparently there were even more people making the opposite guess.
In one way, the more people that bought put protection on their stock portfolio created the bullish pressure that took weeks to unwind.
(When you buy puts, the market maker is going long the stock as their own hedge. most akin to a bookie)
The underlying dynamics of the market have supported the people who have been long on it.