This Psalm is the result—the heart's comment on what has passed, when all is set right by Psa. 32
It is not L'David (to the Beloved). It is an interesting new view of the millennial glory—the God of Providence therein shown as the Lord, and identified in the same power and glory as the Creator, while the counsels of men come to naught, and His counsels stand in the blessing also of those who celebrate it—even His people. It takes it up also in His moral character, on which the security of His people depends. Israel being the result of the earthly system, the God of Creation and Providence is here exhibited in the result of both, as to the present world, as the Lord and towards them. Its connection with the providences by which it is brought about is plainly declared from verse 10, onward, but it is not David identified with his people, but the broad general principles, the converse, or other part of the truth, from the special election privileges, though true in them, to wit, the God and His character from which they flowed.
This Psalm should be considered with Psa. 24 There David, the Beloved, is shown to be the Lord. Here He is viewed higher up, as it were, in the same truths, for the moral character of God is before His purposes, as we view them, for those manifest Him to us, as 1 John 1. David is the beginning of His purposes, but the brightness and image of His, glory and Person.