The US markets rebounded on positive results from tech giant Cisco and slight drop in US weekly jobless claims in what seems to be a return from the abyss, with the Nasdaq closing up 4.7% and the S&P 500 up 51.88 points.

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With both 981 and 988 resistance cleared the FTSE 250 (ETF:MIDD) is on course to challenge 1,027.

The FTSE 250 trades bang in the middle of its new May-July range. Short term rally looks spent but likely to meander from here.