Donald Trump has only been president for a week, but the market and analysts are already projecting what Wall Street's future might look like in a Trump administration, with a particular focus on the VIX (CBOE Volatility Index) value dropping.

"Look what the market's doing today. It's waffling around a little bit, really digesting," Kenny Polcari, the equities director at O'Neil Securities, told CNBC's "Closing Bell" on Friday. "Overall the sense is that investors are still comfortable where we are based on what the Dow and the have really done, and really made new highs this week. Although, you see where the VIX is. It's very complacent, which is a little bit concerning because if that starts to heat up a little bit you'll see the market back off. But the sense is that the market is OK here. I'm bullish on what the future's going to look like. I'm a little bit cautious near term."

While Polcari said he believes the market is feeling OK, others are concerned with what some have characterized as a "volatile week" for the new president.

"In terms of policy, you have a president, rightly or wrongly, very sensitive to perception. Thinks the world revolves around him. What he thinks of the world," Evan Newmark, a CNBC contributor, said. "If you buy all the stuff about the VIX, it is complacent. What investors need to get their hands around is, is that for the last several years, the market has largely been a function of the Fed, or what's called the Janet Yellen market, and now you're in the Donald Trump market. And so the market will respond to his tweets from the White House, you know, like this whole thing with Mexico. I think the bigger surprise is that it hasn't responded more."



David Bahnsen, CIO of The Bahnsen Group, said he's interested in seeing the "tug of war" between Yellen's and Trump's influence on the markets.

"Yellen kind of had control of where things were going all by herself, and now we see President Trump and the postelection kind of movement and this anticipation, that's really running the show," Bahnsen said. "What happens when we get these two forces going against each other, is perhaps some movement forward in fiscal stimulus and then some tightening in monetary. That's our big thesis that we think 2017 has. We don't know is what that tug of war between the two persons will look like."

And in terms of successful sectors in the near future, some analysts like Bahnsen and Rob Morgan pick financials as a favorite. However, others like Newmark see financials following a similar route to the retail sector.

"For retail, you saw Amazon coming. You weren't sure how it was going to play out. Now if you look at most retailers, it played out very badly for them," Newmark said. "The commoditization of finance will play out badly for most financials. Maybe you have some exceptions like a Blackstone, but in general you will see entire sectors of finance get very commoditized."

