There's now a 40% chance for a tropical or subtropical depression forming near Florida by the Fourth of July holiday weekend.

There is a 70 percent chance of tropical formation within the next 2 days. While the storm moves away from Florida, a residual pull of moisture will still be present, igniting storms over parts of the state.

The odds of tropical development for a system east of Florida and off the southeastern coast of the United States have increased, according to the National Hurricane Center.