Okay, so short-term I mean a day to a week. Some argue that price-action analysis helps you predict movement but what about today and yesterday? These gap downs weren't predictable (I don't think) but why do prices gap down like this? Does an algo just randomly pull bids and price drives downward due to other algos exasterbating the process?
Seems like the real trading action happens in London at 3 A.M. (Futures) and everything just snowballs.
I feel since 99% of retail traders lose money, the real winners are the HFTs/MMs (bid-ask inefficiency), and insider traders. I believe these will be flattening out with time. Oh, and of course the house (brokerage).