God sees everything. Theology teaches that God is omnipresent (“everywhere/present”), omniscient (“all/knowing”) and omnipotent (“all/powerful”). That means nothing will happen to you or me today that He doesn’t know about, care about or have a plan for.
This verse is typical Hebrew parallelism, with the second line amplifying the first. The first says He sees everything that happens everywhere. The second notes that He is watching both the wicked and good. He sees it all and has the power (implied in this verse, but a true theological statement) to do something about it – and He will do so, accordingly.
The catch is that I need to get comfortable with what He chooses to do and when He chooses to do it. From my limited understanding of life going on around me, I tend to want what I want, when I want it — and that’s generally right now. But He sees what I don’t see, knows what I don’t know and can handle anything that comes my way.
At least that’s how it’s worked during the 43 years I have followed the LORD. I’ve also seen it work really well for everyone else who pays attention and quits trying to make things happen their way.