Albert Barnes Commentary Psalms 130:5

"I wait for Jehovah, my soul doth wait, And in his word do I hope." — Psalms 130:5 (ASV)

I wait for the Lord — That is, in this state of distress and trouble — from these “depths” of woe, and sorrow, and conviction of sin. This implies two things:

1. that he had no other dependence;
2. that his soul was actually in a waiting posture, or that he actually looked to the Lord for his interposition.

My soul waits — I wait, with all my soul and heart.

And in his word I hope — In his promise. I believe that he will fulfill that promise, and that I shall find a gracious answer to my prayers. Under conviction for sin, under deep sorrow and distress of any kind, this is the only hope of man. If God does not interpose, there is no deliverer; that he will interpose we may feel assured, if we come to him with a humble, a believing, and a penitent heart.