I am seeing some significant signs of a Google update in the WebmasterWorld forums. There is a large uptick in SEOs and webmasters talking about changing in the search rankings for their keywords.
Some are citing huge drops in referrers and rankings from Google, while others are saying they saw an 20% uptick in traffic from Google as of yesterday.
The first real post on this came in about 24 hours ago from a webmaster who said:
Small drop today for keywords with 'firm' in the combination.
HUGE drop (a lot going outside the top 100) for keywords with 'firms' in the combination.
We just had a Panda update so I doubt it is Panda related. I know we are waiting on a Penguin update. But this can be an update to Penguin, Panda or an other algorithm. It can be manual penalties, it can be a bug, it can be nothing.
I'll ping Google and update this post when I hear back.
Forum discussion at WebmasterWorld.