So confused, not even funny anymore

Hi all
So if anyone can help me with some direction on this issue, I would be so grateful. Here's the story.
I'm a 32 yr old woman who, for the last 7 months, has been chasing a 52 yr old woman. I'm a Virgo, she's a Libra. She's also my fitness instructor and quite famous in this country as a sportswoman.
So we started chatting over IM about 7 months ago. It was innocent in the beginning with a very small amount of flirting from her side. I was in a long-term relationship at the time so I couldn't really reciprocate the flirting. In the interim, my relationship ended and I became single.
We started chatting more and more with more flirting going on. Eventually we hit it off and got intimate. We agreed after the first time that we would be sexual partners. However it became clear that both of us were starting to feel a lot more for the other than we originally thought. 3 blissful months of getting to know each other, fantastic sex and seeing and experiencing new places together. We were getting emotionally involved with each other. I'm talking missing each other, wishing we were together, real relationship stuff.
Come Valentine's Day this year, she pulls a handbrake on the relationship. The flirting stops, the nice messages stop, but she still wants to see me and spend time with me. She clearly says that she loves spending time with me. 1 month after this handbrake, she comes over for dinner to my house, puts her arm around me and apologises for being distant and that things will get better. Once things at work settle down, things between us will get better.
Now I wait. It hasn't gotten better, in fact, a bit worse I would say. The messages are becoming less, no more good morning or good night IM's, then an IM yesterday saying that she just needs a time out from everyone and time to chill. Previously she said we have a special bond, but it doesn't feel so special anymore if I'm put into the same category as everyone else.
At this point I should mention that she is a very private person and the fact that she let me in to her life speaks volumes, however, now I feel like I'm being let out the back door.

So basically, do you think I should sit tight and let her come to her own senses, or should I ask to speak to her and ask her straight out if we are still sexual partners or if she's over that?
What do you guys think? I'd really appreciate some feedback.
Thanks!

 

Thanks heanic! This is such a strange situation to be in, I've never had it before. It's almost like I know what she's doing and I can see what she thinks of me, but I just can't pull myself away. It's like I believe I've found the most fascinating person in the world. I think the biggest thing is that she knows what she can get from me and now the chase is off from her side.
I do believe her somewhat when she told me why she has retracted from me. She said that when she feels overwhelmed by things in her life she retreats and unfortunately it affects every part of her life. Baring in mind that she is 19 years older than me and is very set in her life, I can't try to change it. She still hugs me and asks me to go for coffee and there is still good chemistry between us. I asked her if she still gets butterflies when our eyes meet, she said she does.
I believe her story but it doesn't stop it from being incredibly hard to deal with. I have to say though that she's very different to anyone I've ever met. She fascinates and intrigues me beyond belief, really and it drives me absolutely crazy!
At this stage I feel like I should be waiting to see what comes out of this, because at the end of the day I'm learning more now than I ever have in my entire life. I'm learning about other people, different types of relationships, and, the hardest part, I'm learning about myself.
Right now I cannot see anyone else that I would want more than her. And every time she lets me down it feels like, not just a knife, but a massive cleaver going straight through my heart. It kills me.

Anyway, thanks for your reply. I appreciate any feedback!