Lululemon has been a darling since March 2009. The good times are over for Lululemon. Lulu made a double top in August 2016 against the first top in May 2012. Since the August 2016 top, it has been steadily under performing against the S&P 500 index. On March 30th, 2017 it gapped down and violated the neckline precisely with heavy volume.