Psalm 16 quite simply is a psalm about the Joy that is to be had, when the Lord is your prize possession.
Main Point: For David the Lord is his chosen portion. He sees and understand that the Lord has blessed him greatly. And he sees beyond this life into the next knowing that the Lord will not abandon him to the grave. This knowledge leads David to great Joy. This psalm can be summed up by its last verse.
You make known to me the path of life;
in your presence there is fullness of joy;
at your right hand are pleasures forevermore.
Interesting Points: Verse 10 is used in Peter’s pentecost sermon to show that this Psalm was about Jesus, and that David was prophesying about Jesus’ resurrection.
Emotional reaction: This psalm allows me to rest in Jesus, and in the Father. It reminds me that for all the promises of the world they can not match the worth of the Trinity. It brings peace, and Joy knowing that the Lord has blessed me, that he cares for me, and that he guides and directs my paths. He will ultimately bless me like he did Jesus at the resurrection of the Dead, that I might be with him forever.