Goldman Sachs Prime data shows that global tech stocks saw record net selling last week, with net exposure dropping to the 0th percentile. Meanwhile, retail investors bucked the trend by pouring money into leveraged ETFs, with nearly $10 billion flowing into leveraged ETFs between October 12 and 16, marking the largest single-week inflow since data began in 2006. Approximately $7 billion of this went into the triple-leveraged semiconductor ETF SOXL, a record for the product. Last week, the Nasdaq 100 index fell by approximately 5.5%, and the Philadelphia Semiconductor Index (SOX) dropped by about 11.5%. Goldman Sachs strategist Brian Garrett believes the next move "will depend more on earnings confirmation," with earnings season becoming the decisive point for bulls and bears. Additionally, the notional value of S&P 500 put options traded last Friday reached $3.3 trillion, an all-time high.