I'm going to go out on a limb and say by the time this is within the SPC's 2 Day Outlook, we'll see a Moderate Risk in place from eastern Arkansas through the northern halves of Mississippi and Alabama and going north to include western Tennessee and a portion of western Kentucky.
I think the convection will initiate in northeast Texas sometime on early Monday with supercells developing farther east into Louisiana, Arkansas and Mississippi as the day goes on. By Monday afternoon/evening, this outbreak may be in full force with Tornado Watches in place for much of Louisiana, Arkansas, Mississippi, Alabama and western Tennessee. The primary threat will first be supercells ahead of a main line that will develop later in the evening into the overnight hours as it pushes east into Alabama, Tennessee and Kentucky.
My target area for the highest tornado threat is eastern Arkansas, central and northern Mississippi, central and northern Alabama, and western Tennessee. Parts of Missouri, Kentucky, southern Illinois and southern Indiana will also see active weather.
Then the activity pushes farther east by the next day, however should not be "as extreme" as we'll see on Monday into Monday night.
Let's see if I'm anywhere near close on this LOL