Markets face resistance but is a Santa Claus rally looming?

The only missing component of a sustained multi month rally is an obvious higher high on the dailies. After massive worldwide government stimulus, the Dow Jones has managed to trace out a series of higher lows as confidence slowly returns. Most indicators are showing positive convergence on the daily time frame but a wall of resistance lies just above with recent highs at 9654 and 9794, also the 50 dma at 10,000. I expect that if that recent high at 9654 breaks we could see a domino effect of strength up through 10,000. If that scenario comes to pass then I think it would be easy for stocks to follow through with a seasonaly favorable December rally. My target would be the 200 dma up around 11,500.

IWM looks similar but is much closer to breaking out than the Dow Jones. If IWM get over $55 I'd expect to see some real fireworks in the small caps since the measured rule for the inverted H & S below targets roughly the 200 dma (over 20% post breakout).
Disclosure: I own calls on a number of stocks and ETFs.