I will pour on David’s house, and on the inhabitants of Jerusalem, the spirit of grace and of supplication; and they will look to me whom they have pierced; and they shall mourn for him, as one mourns for his only son, and will grieve bitterly for him, as one grieves for his firstborn.
Zechariah 12:8 In that day Yahweh will defend the inhabitants of Jerusalem. He who is feeble among them at that day will be like David, and David’s house will be like God, like Yahweh’s angel before them.
Zechariah 12:9 It will happen in that day, that I will seek to destroy all the nations that come against Jerusalem.
Zechariah 12:10 I will pour on David’s house, and on the inhabitants of Jerusalem, the spirit of grace and of supplication; and they will look to me whom they have pierced; and they shall mourn for him, as one mourns for his only son, and will grieve bitterly for him, as one grieves for his firstborn.
Zechariah 12:11 In that day there will be a great mourning in Jerusalem, like the mourning of Hadadrimmon in the valley of Megiddon.
Zechariah 12:12 The land will mourn, every family apart; the family of David’s house apart, and their wives apart; the family of the house of Nathan apart, and their wives apart;
The verse centers on "Spirit", "grace", "pour", "david", "house", "inhabitants", "jerusalem", and "supplication". It is saying that the verse draws attention to "Spirit" and "grace", so its meaning should be read from those terms before moving to application.
The nearby context moves from verse 9's "It will happen in that day that..." into verse 11's "In that day there will be a...", so "Spirit" and "grace" belong inside that flow. In Zechariah context, the local focus is covenant, worship, and faithfulness.
A plain takeaway is to answer the verse's own emphasis on "Spirit" and "grace" with trust shaped by these words, not by a vague optimism outside the passage.