RECORD HIGHS EARLIER IN THE DAY. NASDAQ IS MOVING THE OTHER DIRECTION, DOWN ABOUT 1% AT 17,714. LET'S GET TO OUR MARKET NAVIGATOR, DOMINIC CHU. TYLER, THERE'S BEING CHANGES THAT MAY COME TO LEADERSHIP FOR THE BIG PHARMA SECTOR. WE'VE BEEN TALKING SO MUCH ABOUT ELI LILLY, THE CLEAR LEADER, RIGHT? THE HEALTHCARE INDEX WITHIN THE S&P IS UP 14% SO FAR, SO VERY RESPECTABLE. LET'S BRING IN KATIE STOCKTON, TECH TECHNICIAN, AND SHE HAS INTERESTING THOUGHTS WHETHER WE THINK NAMES LIKE ELI LILLY AND NOVO NORDISK, THE ONES THAT ARE ANTI-OBESITY, ARE THE ONES THAT WILL STILL BE LEADING 6 TO 12 MONTHS FROM NOW. KATIE? >> I THINK, DOM, A SHIFT IN LEADERSHIP IS LIKELY HERE. I SAY THAT IN PART FOR TOP-DOWN REASONS. WHEN WE SUE MARKET CONDITIONS DEVELOP, THE WINNERS, THE LEADERS TEND TO BE PENALIZED IN THAT ENVIRONMENT. WE ARE SEEING FOR A SEESAW CORRECTIONS FOR THE MAJOR INDICES. THAT WOULD LIKELY HIT THE LIKES OF LILLY AND NOVO, HARDER THAN THE LAGGARDS IN THAT SPACE. WE'VE NOTICED SOME REAL RECOVERY RALLIES TO SUGGEST THEY'RE ON THE VERGE OF TURNING THE CORNER. IT COMES AT THE SAME TIME WE'VE SEEN VERY SUBTLE LOSS OF LONG-TERM UP SIDE. >> SO YOU'RE NOT SO MUCH DOWN ON ELI LILLY, IF I'M UNDERSTANDING YOU CORRECTLY, AS SAYING ELI LILLY MAY GET CAUGHT MORE THAN OTHERS IN A MARKET DOWNDRAFT, THAT IS A. B, IS THAT OTHERS IN THE SPACE MAY START PLAYING SOME CATCH UP-TO-THE LIKES OF LILLY? >> I THINK THAT'S FAIR TO SAY. IF YOU LOOK AT THE RATIO OF ELI LILLY TO PFIZER, FOR ONE, IT LOOKS OVERSTRETCHED. IT'S BEEN SKYROCKETING OVER THE PAST COUPLE YEARS, THERE ARE SOME INDICATIONS THAT THAT RATIO IS A LITTLE TOO STEEP AND NOT SUSTAINABLE, WHEN YOU LOOK AT THE METRICS THAT ARE DOWN PARTICULARLY FOR THE FOUR MONTHS OR SO. WE SEE A LOT RELATIVELY FOR LILLY, AND IT WOULD BE ONLY NATURAL AFTER THE PERFORMANCE IT'S SEEN. WE ALSO HAVE THE CASES FROM THE LAGGARDS THAT THEY SEEM TO BE TURNING THE CORNER. PFIZER HAS AN OVERSOLD UP TURN AND IMPROVED MOMENTUM TO THE DEGREE IT'S IMPACTING OR MONTHLY INDICATORS, SO WE THINK THAT'S A MEANINGFUL LONG-TERM SHIFT. AND WE LIKE SOME OF OR PORTFOLIO LOOK LIKE THAT, THE TURNAROUND PHASE, BUT FURTHER WITHIN THE PHARMACEUTICAL SPACE, YOU'LL SEE SOMEWHAT SIMILAR SET JUDGMENTS, THEY WERE BOTH IN CYCLICAL DOWN TRENDS, AND THOSE DOWN TRENDS HAVE LOST SOME STEAM. WE HAVE SEEN OVERSOLD REACTIONS FROM THE TWO STOCKS AS WELL, AND THIS CONSUMES IMPROVED SORT OF A