Are we on target?
I myself like to get caught up in the shorter timeframes, especially with my brokerage account where I have more mobility than TSP. Nevertheless, the S&P 500's weekly chart looks pretty darn good. We can see that prices are on target within the linear regression channels, the overbought red channel sits at 1350 while the oversold green channel sits at 1105. While volume has been declinging off the March 2009 bottom, we can see this last rally has given us a surge in positive volume exceeding both the 13 Simple Moving Average, and the 94 Week Linear Regression line. Volume is proving (confirming) these are in fact bullish conditions. Meanwhile Stochastics are confirming the price action, having been embedded over 80 for the last 13 weeks. That's all I got, I wish I had some really cool bearish stuff to scare you with, but I don't. Aside from some recent short-term flat/down action, the trend remains up "don't fight the trend."
Take care and trade safe.
