The S&P 500 won’t even keep up with inflation in the next 10 years, this accurate indicator shows MarketWatch 1/23/2021 MARKETWATCH PREMIUM The stock-market-valuation indicator with the best forecasting record is predicting that the S&P 500 Index’s total return over the next decade won’t even keep up with inflation. nominal 10-year total return will be only 0.7% annualized, according to the indicator. Welcome to this month’s update of eight valuation indicators with good long-term records — a regular feature in this space. In the table at the end of this column I review their current status. Careful readers will note that this month I am deleting one of the indicators that I had included in previous columns, and in its place I’m adding this new one with the unequaled long-term record.