We saw many Penguin fluctuations happen over this weekend, and we knew that Penguin would be ongoing over several weeks.  But John Mueller from Google has confirmed that the Penguin update is still ongoing in a Webmaster Office Hours this week.

In the latest Google Webmaster Hangouts, he was asked about whether Penguin is still rolling out.

As far as I know, the whole data is still rolling out so you might just be seeing fluctuations from that.

And even though this rollout is taking several weeks, he also confirmed that it is too late to disavow links for this update.

It’s never too late, but it’s probably something that we wouldn’t take into account for this round.  Primarily because we have to recrawl all those links first.  It’s not the case where you submit the file and then we process it and it’s taken into effect right away.  We essentially have to recrawl all those links and then that data is taken into account the next time that algorithm is used.  It’s never too late, it’s something that if you see problems I’d definitely submit that file. But it’s probably not going to take effect for this round.

In other words, keep working on your disavows, but it won’t affect these Penguin fluctuations at all.