Chart: LULU

A very bearish chart.  LULU broke the support level at $70 on huge volume.  Note also the lower peaks in RSI as the stock made higher highs over the past several months.

RSI and stochastics are already oversold.  I will wait for a low volume dead cat bounce at overbought level to initial shorts.

As of late, the apparel stores industry is very weak.  It failed to challenge the old high made in early April and displayed some distribution patterns lately.  It's now at oversold level.  Not a good time to short.  I will post some charts in this industry that I'm interested to monitor in the next post.