I agree it may be a bit premature to power down, but as you said, there are at present no real signs of a reversal, and I don't see one coming in the future, either. I am not powering down completely, but would like to retain some of the value I have put in. I watch the price fall predictably and steadily about a half a penny every day. No word from the devs on anything, and the market cap continues to fall.
Steem very well could reverse. My concern is losing all I have worked for if it doesn't. I see commentary quite frequently about this or that new low being the "bottom," but as you said, the indicators are not there. This has been going on for months.
It seems the wisest to me at this point to take a little out and put it into something that has a more solid forecast, and is doing well, such as BTC.
All that said, I am still not sure. Perhaps I will cancel the power down. Steem now at 17 cents and approaching 16 with utter silence in the Steemosphere. Doesn't seem to bode well. Maybe it will end up like Dogecoin and be only worth a tiny fraction of a cent. Even then, I would be interested. Watching my account value plummet with no real answers to important questions is making my spidey-sense tingle, though.
Well, it doesn't hurt to take a cautious approach either. If you power down a bit now and put it into Bitcoin (which does look set for further gains), and the Steem price continues to decrease, you can buy back in later and get more Steem than you started with. This would be much like the strategy I'm using for REP. However to do that really effectively you have to play the "guess the bottom" game.
Another factor to consider in that strategy is you lose out on some of the "interest" from holding Steem Power. But right now the price is going down much faster than that interest is accumulating, so it might not make much difference.
It's a trade off, and hard to see which approach is best without knowing how close we are to a bottom.