What do current ETF flows suggest? Confusion? Desperation? or Strategy?

Looking at the ETF flows for the last week, and for yesterday, it looks to me like people just don't have any idea what to do right now. Cash is going into funds that are just continuing to go down, and obviously so. I can't blame them, but it's interesting to look at.

It seems like people are grasping at leveraged ETFs, grasping at bonds, at income funds, and making bets that despite the obvious and severe downward trend that something like semiconductors will magically reverse that trend in the midst of a tech crash/bubble-pop.

Are you investing in any of these now, if so why? If not, what are you doing instead?

Flows for 08/26/2022 – 09/01/2022

• BIL SPDR Bloomberg 1-3 Month T-Bill ETF 1,954.04
• SHV iShares Short Treasury Bond ETF 1,867.29
• TLT iShares 20+ Year Treasury Bond ETF 948.12
• JPST JPMorgan Ultra-Short Income ETF 813.08
• JEPI JPMorgan Equity Premium Income ETF 435.69
• IJJ iShares S&P Mid-Cap 400 Value ETF 420.57
• TQQQ ProShares UltraPro QQQ 417.01
• XLF Financial Select Sector SPDR Fund 404.13
• IJS iShares S&P Small-Cap 600 Value ETF 403.51
• MINT PIMCO Enhanced Short Maturity Active ETF 389.23

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ETF Fund Flows For September 1, 2022

• SHV iShares Short Treasury Bond ETF 1,544.71 20,779.31 7.43%
• BIL SPDR Bloomberg 1-3 Month T-Bill ETF 1,308.85 18,703.20 7.00%
• HYG iShares iBoxx USD High Yield Corporate Bond ETF 411.47 12,688.34 3.24%
• QQQ Invesco QQQ Trust 299.28 164,635.03 0.18%
• VOO Vanguard S&P 500 ETF 243.26 263,929.77 0.09%
• SPY SPDR S&P 500 ETF Trust 217.33 358,446.47 0.06%
• XLI Industrial Select Sector SPDR Fund 195.13 13,159.88 1.48%
• SH ProShares Short S&P500 153.98 3,435.65 4.48%
• JPST JPMorgan Ultra-Short Income ETF 148.06 21,609.30 0.69%
• SOXL Direxion Daily Semiconductor Bull 3X Shares 146.27 3,844.98 3.80%