Ponder the path of thy feet; properly, make straight or level the path of thy feet. The command carries on the idea of the previous verse. Simplicity of aim in the moral life is to be accompanied by attention to the moral conduct.
The sense is, remove every obstacle which may impede or render insecure the way of moral life, and thus avoid every false step. The meaning "to ponder," i.e. "to weigh," seems to be given to the verb palles, piel of the unused palas here used only in Psalms 58:3 and possibly in Proverbs 5:21.
Its ordinary signification is "to make level, or even," as in Isaiah 26:7; Isaiah 40:12; and Proverbs 5:6. The LXX. keeps this in view in rendering, "Make straight paths for thy feet" (cf. Hebrews 12:13).
The Authorized Version would mean, "Weigh your conduct as in a balance; before acting, consider the consequences and nature of the act." The second clause, and let all thy ways be established, is in effect only a repetition of the preceding thought, since it signifies, "See that thy conduct is correct; let all thy ways be definite and fixed."
The marginal reading. "And all thy ways shall be ordered aright." gives the literal rendering to the tense; yikkonu being the future hiph. of kun, "to be established," "to stand firm." This would express the result of giving heed to one's conduct.