If you missed the specifics here:
Google's Matt Cutts: Next Generation Of The Penguin Update "Few Weeks" Away

and here on Google no longer being transparent on their updates:
Google: We're Unlikely To Confirm Current Or Future Panda Updates

Of course, rumors abound on a "minor" update that just occurred without any confirmation from Google....

A strange thing the last few months for me has been a sharp uptick in Bing traffic; however, Google still rules > 50% of search engine referrals for me.