Peel the asparagus, cut off the woody ends. Cut the asparagus into pieces. Cook in boiling salted water for 15-20 minutes. Wash the watercress and pluck it from the stems. Cut the almonds in half lengthwise.
Peel and finely dice the shallots. Arrange all salad ingredients on a plate. For the sauce, mix egg yolk, mustard and vinegar. Slowly add the oil while stirring continuously. Season to taste with salt, pepper and sugar.
Chop tarragon finely and stir in. Serve the sauce with the salad.