Leave your retirement accounts as they are.

1st comment: You have 35-40 years until retirement. You need to keep your money invested for the long term, and not try to market time over the short term. There is a lot of good research and quotes out there about market timing. Here are two good quotes on it:

Quote:

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David L. Babson & Company

• "It must be apparent to intelligent investors that if anyone possessed the ability to do so [forecast the immediate trend of stock prices] consistently and accurately he would become a billionaire so quickly he would not find it necessary to sell his stock market guesses to the general public."

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Quote:

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Alan Abelson

• "Do you know what investing for the long run but listening to market news everyday is like? It's like a man walking up a big hill with a yo-yo and keeping his eyes fixed on the yo-yo instead of the hill."

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2nd comment: I understand your "50% Vanguard Insitutional Index Fund" to be an S&P 500 index fund. On that assumption, a few nitpicking comments: you have some overlapping investments. The Target Retirement Funds have US & International stocks, and bonds. so in theory you could simplify even more.
but you have a great portfolio.