The stock market enjoyed a remarkably quiet month of August as the S&P 500 finished flat and did not see a single day in which it moved more than 1%. In fact, on July 12th the S&P 500 was down 1.5% and has not seen a greater than 1% move since then. What a contrast to last August! This relative calm is reflected in VIX, the market fear gauge, though VIX only measures expected volatility 30 days out.
Longer term measures of volatility are higher than normal suggesting possible future volatility. In an election year, especially an election year with two unpopular major party nominees, this perhaps should be expected, though there are other explanations as well.