Here is a 30 minute bar chart showing pit and electronic trading in the June T-bond futures.
The market made it up to 108-18 overnight, just a tad above the 108-16 level I thought would be initial resistance. The subsequent break has been deeper and faster than I had expected. Since the drop from 108-18 does not yet show a three phase structure I don't think is is over yet. Instead I expect to see a small rally from the 110-17 level, the low reached Sunday night, followed by a drop to 107-08 or so. Then I'll be looking for a move up to109-00.
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