The SP is reaching a high note here. It is an attempt, in my judgement, to pump up financial assets, led by price manipulation and not any economic fundamentals or legitimate price discovery. It might go higher, but higher from here it looks like bubble territory, if we are not there already.
Overdue for a fairly stiff correction, but do not get in front of it for the sake of your portfolio. I would not underestimate the Fed's willingness to create a new bubble to attempt to counteract the effects of the last two. What else can they do given the hole into which they have dug themselves? It will take a serious financial reform and economic restructuring effort to correct this. Until then the looting continues. 
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero