Highly overvalued aex is at a critical level on a longer (let's say monthly) horizon as well. If the upper edge (the top of r-zone 499-503) for tech st-pattern is not broken upwards within the next session - at/before ~3pm, the prob to hit the pattern target ~510 would fall, the prob to retreat towards ~495 would rise, resulting in a high prob for a (low) "top-forming" (under ~503).
However, the formation of (short-term) "low top" would essentially increase the prob to dive further, and would trigger formation of the "right shoulder" for classic mt-pattern.... (with its "left shoulder" at ~500 formed around Mar 20, and a critical trigger level just under ~480). Resulting in possible correction with its first target around ~450 (preliminary timing - before the end of Jul).
As for undervalued kpn, its advantages at high market volatility would become even more clear, as it's a "risk-neutral" fund (in both market & credit/default risks), not correlated with aex and other indices on longer horizons, with still high upwards potentials (the fair value as you know is around ~4) ...., with good objective prospects for outperformance and div increase....