As predicted, Tropical Storm Alvin is “rapidly weakening” far off in the East Pacific, but a new tropical depression is expected to form in the region over the next few days, forecasters say.

Alvin, the first named storm of the 2019 East Pacific hurricane season, was about 600 miles west-southwest of the southern tip of Baja California as of this afternoon, according to the National Hurricane Center in Miami. The storm had maximum sustained winds of 50 mph and was moving northwest at 15 mph.

“Continued rapid weakening is forecast, and Alvin is expected to decay to a remnant low by late Saturday or Saturday night and then dissipate by Sunday,” hurricane center forecasters said.

Closer to the southern coast of Mexico, an “elongated area of showers and thunderstorms” has formed and “environmental conditions are expected to be conducive for development of this system, and a tropical depression is likely to form late this weekend or early next week while the disturbance moves westward to west-northwestward at about 15 mph,” the hurricane center said.

Forecasters said the chances that the system will form into a tropical depression are 60% in the next two days and 90% in the next five days.