What do you about the market at the moment?

Worth investing in index funds right now for the long-term or nah?
It’s hard for me to see the S&P makes annually return of 10% for decades as it did in the past. The market is so expensive right now. Companies like Coca Cola, P&G, PM, HD, LOW, etc with P/E of 20+. And this is only the P/E metric.
I think that there are so many bargains like PayPal, Facebook and so on.
Do you think that portfolio of Intel, Facebook, PayPal, Google, JNJ will outperform the market in the next years?
Maybe 10% Google, 10% PayPal, 10% Facebook, 10% Intel, 10% JNJ and 50% VOO?
Just want a strong and solid portfolio for the next 4-5 years. I know that the world ‘solid’ and ‘high return’ don’t go together, but I expect about 7-8% a year. Is it realistic?
I would be investing 100% in the S&P, but again, it’s hard for me to see the S&P makes an average of 10% a year..