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The traffic for my site coldremedies.com went down significantly on May 23rd, I'm assuming due to google's latest update. Can anyone give me some insight about why that might be? I'm in the process of analyzing my links but any help would be appreciated...
Sorry to hear that.
You need to search for possible issues like linkbuilding(in past as well), SEO, content changes, copied content (from someone else as well), competitors, negative seo, etc, ect...
No one really can't tell you what will work for your site, because we dont' know its SEO past and its current situation and if we know this, it wold be still very hard to say what is going on, we all just can make guesses.
My suggestion to you is that you keep doing seo for that site, but dont' do it to much, just enough and do it smart.
Be sure that content on the page/site is not just OK that it is great, also make few social signals ad if content is great it will continue to be shared by social media and by links, which is our end goal and something google wants.
Also watch and read my tutorial for wikis if you already didnt', it is good for any form of linkbuildng.
Also work on gaining non-google traffic. If you have quality content make sure its shared on places like Stumble upon, reddit etc - but don't over do it!
Try to remove unnatural links from googel webmaster.