2026-08-05 · Beat the Print, Sold the Pop
Three names that just beat earnings this week, Assurant, Mastercard and Booking, are exactly where our confluence signals are flashing bearish, a reminder that good news and a good entry point are not the same thing.
The Signal
The Dow closed at another record high while the Nasdaq slipped and the S&P finished flat, snapping a four-day winning streak. Mixed mega-cap earnings prompted profit-taking in recent leaders, and hopes for a Strait of Hormuz deal pushed oil lower, lifting cyclicals over energy. Argus stays intermediate-term bullish, and Friday's July jobs report is the next real…
The skinny
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