Let us review the situation. Your studs are spaced at 16" centers. Your joists are spaced at 12" centers (correct me if I am wrong).
You are designing for a 29' span with a LL of 40 psf and a DL of 15 psf. The unfactored reaction on each joist is 29*(15 + 40)/2 = 798#.
Assuming that every fourth joist aligns with a stud, the worst case for bending in the top plate is when the joist reaction is midway between studs. The simple span moment in that case is 798*16/4 = 3192"#, i.e. 1596"# per 2x4. The section modulus for one 2x4 is 3.5*1.5^2/6 = 1.312in^3. So the bending stress in each 2x4 is 1216 psi.
In that case, the unfactored shear is 399# and the maximum shear stress is 399/(2*1.5*3.5) = 38 psi.
When the joist reaction falls 4" from the center of a stud, the maximum shear is 798*12/16 = 598.5# and the unfactored shear stress is 57 psi.
In addition, you have OSB nailed to one side of the top plate. I don't know what kind of material you are using, but for #2 SPF, where's the problem?
Your spans seem a bit long for comfort. If the first and second floors span 29' and you have partitions between these floors, my suggestion is to take advantage of load sharing and tie the two floor systems tied together using partitions and perhaps a few strategically placed strap ties. An added bonus is that you will damp out vibrations in both floors.
Best regards,
BA