Here is an update from Monday 14:00 EDT from NOAA:

"...Environmental conditions are forecast to
become conducive for gradual development thereafter, and a tropical
depression could form late this week while the system is in the
vicinity of the Greater Antilles or the Bahamas. Interests in the
Greater Antilles, the Bahamas, and the southeastern U.S. should
monitor the progress of this system."


So it looks like it's not likely to develop into anything powerful until after it gets past SXM.

Source