A Song of Ascents. A penitential psalm.
v.1-2 From the depths of his heart, the psalmist cries out (in prayer) to the Lord for mercy.
v.3-4 The issue at hand is the psalmist’s sin (or guilt) before God. The psalmist is confident that there is forgiveness in the Lord (that he may be feared).
v.5-6 The psalmist waits on the Lord (more so than a watchmen for the sunrise, a hope that will not fail, no matter how long the night may seem—morning comes at its appointed time) and expresses his hope in his word.
v.7-8 The focus shifts from the psalmist to all of Israel. Israel is called to hope in the Lord in whom there is plentiful redemption. He will redeem all Israel from its sins.
Self-help books are no answer when the soul cries out from the depths of distress. There is hope to be found only in the Lord and his word.