We rode into Tepee Basin. There was 1-2 feet of new snow with a few inches falling during the day. In a brief period of clearer skies we saw two natural avalanches on the steep slopes above the basin. Neither was huge, R2-D2. One ran about 500', both looked to be 1-3' deep. We saw another natural avalanche near Bacon Rind into the Gallatin River.
The avalanche warning was certainly justified. We did not go near any steep terrain. Dug one pit and measured 1.8" SWE in the storm snow. ECTP 20 about 2 feet deep and an ECTP23 failed on the basal facets. We would plan to avoid steep slopes and runout zones for a while waiting for things to stabilize.