Passage
Blessed is the man unto whom Jehovah reckoneth not iniquity, and in whose spirit there is no guile!
Psalms 32:2 (DBY)
Nearby Context
Psalms 32:1 {Of David. Instruction.} Blessed is he [whose] transgression is forgiven, [whose] sin is covered!
Psalms 32:2 Blessed is the man unto whom Jehovah reckoneth not iniquity, and in whose spirit there is no guile!
Psalms 32:3 When I kept silence, my bones waxed old, through my groaning all the day long.
Psalms 32:4 For day and night thy hand was heavy upon me; my moisture was turned into the drought of summer. Selah.
Study Lenses
The verse centers on "Spirit", "blessed", "jehovah", "reckoneth", "iniquity", "whose", and "guile". It is saying that the verse draws attention to "Spirit" and "blessed", so its meaning should be read from those terms before moving to application.
The nearby context moves from verse 1's "Of David Instruction Blessed is he whose..." into verse 3's "When I kept silence my bones waxed...", so "Spirit" and "blessed" belong inside that flow. In Psalms context, the local focus is worship, trust, the LORD's kingship, and covenant mercy.
A plain takeaway is to answer the verse's own emphasis on "Spirit" and "blessed" with trust shaped by these words, not by a vague optimism outside the passage.