Series of Dreams Lyrics
Where nothing comes up to the top
Everything stays down where it's wounded
And comes to a permanent stop
Wasn't thinking of anything specific
Like in a dream, when someone wakes up and screams
Nothing too very scientific
Just thinking of a series of dreams
Where the time and the tempo fly
And there's no exit in any direction
'Cept the one that you can't see with your eyes
Wasn't making any great connection
Wasn't falling for any intricate scheme
Nothing that would pass inspection
Just thinking of a series of dreams
Into the path you are hurled
And the cards are no good that you're holding
Unless they're from another world
In another, I witnessed a crime
In one, I was running, and in another
All I seemed to be doing was climb
Wasn't looking for any special assistance
Not going to any great extremes
I'd already gone the distance
Just thinking of a series of dreams

pretty much just bob telling about dreams hes had

It's a great song musically, one of his best I'd say. But as to waht it's about...maybe just being preoccupied with dreams or nightmares, or just thinking about all the trials and tribulations of life. With Zimmy, who can tell?

The video is a big clue; footage from many years earlier during the 'UK' tour in 1966...
This song is Dylan's answer to everyone, fans, journalists, and Joan Baez, who was trying to figure out what the fuck he was saying back then!
Supporting Quote: 'At dawn my lover comes for me and tells me of her dreams / With no attempts to shovel a glimpse into the ditch of what each one means' - Bob Dylan 'Gates of Eden', 1965

One of the greatest songs I have ever heard! I can feel this in my soul!

@elephant_range I can speak with authority on this since I was the editor for that video, it’s a masterful piece of work but in reality it’s an interpretation by the director, the rotoscoping artist and the editor. BD had scant input other than approval which was done by his management.
That said, I have an interpretation of “in one, the umbrella was folded ...” I think it’s a reference to Dealey Plaza/Zapruder/Jack Kennedy for what it’s worth.