Dow Jones continues its consolidation below the 30,000 level. Bears may argue that a triple top is in place. After all, the index did fail at the level three times in a row. However, before calling for a bearish reversal, the price needs to invalidate some levels first. As it looks now, the Dow can break either way. Initial Jobless Claims in Focus Today In a little over thirty minutes, we have the Initial Jobless Claims data. If last week\u2019s better than expected data is confirmed today, the Dow may stage another attempt to the 30,000 level. Dow Jones Technical Analysis In technical analysis, there is a saying that \u201ctriple tops rarely hold\u201d. If that is the case here, the Dow may actually form an ascending triangle instead of a triple top. More details are needed in both cases. As such, bears may want to wait for a break of the 29,000 before going short. Also, bulls may want to wait for a break of the 30,000 before going long. In both cases, a stop-loss at the other level and a risk-reward ratio of at least 1:2 make sense for both bulls and bears. Don\u2019t miss a beat! Follow us on Telegram and Twitter. Dow Jones Price Forecast More content Download our latest quarterly market outlook for our longer-term trade ideas.Follow Mircea on Twitter.Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.