Are you looking for dead, calm water?

 

 

Do you want overcast, cloudy days?
 

 

 

 

What are the weather and lake conditions for wake bait fishing?

I look for conditions where running a spinnerbait just under the surface should be producing, but isn't.  My first choice is to switch to a Colorado blade to slow it down, my second is a wake bait. 

Those conditions would be when I suspect the fish to be active and in the upper water column.  Overcast, breezy, high water.  The cover could be weeds topping out just under the surface,  submerged lay downs (horizontal type cover).  The other situation would be to cover a feeding flat looking for actively feeding fish although I know guys that swear by them when the bass are busting shad on the surface.