“Know Which Way The Wind Is Blowing” means to understand the current state of a situation before making a decision or taking action.
Examples:
Budget Minded.
“I only have a hundred dollars to spend on groceries and my hair appointment. Well, that’ll be fifty dollars for groceries and fifty dollars for my hair,” said Norma the thrifty penny.
Meteorologist observing current weather conditions.
“We are tracking sustained tropical storm force winds of 45 miles per hour that will reach our coastline within the next two hours. Stay tuned for updates.”
Stock Market Brokers Advice.
“Brokers are warning of an AI spending bubble, pointing to historically stretched valuations and historic drops across the sector.”