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I will praise thee: for thou hast heard me, and art become my salvation.
The stone which the builders refused is become the head stone of the corner.
This is the LORD'S doing; it is marvellous in our eyes.
This is the day which the LORD hath made; we will rejoice and be glad in it.

New Defender's Study Bible Notes

118:22 head stone. Although much in this key psalm may well be appropriated by each believer, it primarily is fulfilled in Christ, as shown by the use of this verse in the New Testament (e.g., Matthew 21:42; Acts 4:11; I Peter 2:7). According to Jewish tradition, the stones for Solomon’s temple, quarried and shaped far from the temple site, included one odd-shaped stone which did not fit anywhere. It was finally found to be the main cornerstone (possibly capstone) of the entire structure.

118:23 marvellous. The word “marvellous” is actually “miraculous.” The resurrection of Christ, after His rejection and crucifixion, typified by the restoration and exaltation of the chief cornerstone after it had first been refused by the temple builders, was the greatest miracle since creation, and certainly should be deemed marvelous in our eyes.

118:24 the day. This particular “day” was acknowledged as such by Christ when He wept over Jerusalem after its leaders had rejected Him. “If thou hadst known,” He lamented, “at least in this thy day, the things which belong unto thy peace!” (Luke 19:42).

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