Passage
You are good and do good; Teach me Your statutes.
You are good and do good; Teach me Your statutes.
Psalms 119:66 Teach me good discernment and knowledge, For I believe in Your commandments.
Psalms 119:67 Before I was afflicted I went astray, But now I keep Your word.
Psalms 119:68 You are good and do good; Teach me Your statutes.
Psalms 119:69 The arrogant have smeared me with lying; With all my heart I will observe Your precepts.
Psalms 119:70 Their heart is covered with fat, But I delight in Your law.
The verse centers on "good", "teach", and "statutes". It is saying that the verse draws attention to "good" and "teach", so its meaning should be read from those terms before moving to application.
The nearby context moves from verse 67's "Before I was afflicted I went astray..." into verse 69's "The arrogant have smeared me with lying...", so "good" and "teach" 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 "good" and "teach" with trust shaped by these words, not by a vague optimism outside the passage.