On a survey of financial advisors who attended the webcast, 26.9% of respondents pointed to oil & gas as the area that could offer the most tactical opportunities in the next 6 months, followed by 16.4% pointing to Europe, 15.8% looking to gold related and 14.0% watching financials.

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Tom Dorsey, Co-Founder of Dorsey, Wright & Associates, pointed to the relative strength technical indicator to help financial advisor and investors to gauge a securities’ momentum in the market.

“This reading is plotted on a point and figure chart, which then tells us whether we can expect that stock or ETF to outperform or outperform the base index,” Dorsey said.

Relative strength is a type of momentum investment technique that compares the performance of a security to that of the overall market. The indicator calculates which investments are the strongest performers compared to the overall market and suggests further investments for purchase.

Related: Navigating Risks of Leveraged, Inverse ETF Play

Along with the momentum indicator, investors can also utilize other trend following techniques. Jablonski pointed to a simple trend following strategy around the 200-day moving average indicator. For example, if the S&P 500 is trading above its 200-day, go long the S&P 500. On the other hand, if the index dips below its 200-day, go short or inverse S&P 500.

Financial advisors who are interested in learning more about hedging strategies for a volatile market ahead can watch the webcast here on demand.