Counsel is mine, and sound wisdom: I am understanding; I have strength.
Counsel (is) mine, and sound wisdom. It is only with me that wisdom, solid, salutary, and substantial, in all possible contingencies, is to be found. Compare note, Proverbs 2:7, on "sound wisdom" - not deceptive, unsubstantial, and fleeting, like "the wisdom of this world" which is "foolishness with God" (1 Corinthians 3:19).
I am understanding (i:e., I am the source of it); I have strength. As in the former clause, "counsel" and "sound wisdom" are said to be hers, enabling her disciples to frame good plans; so she is "understanding" to her disciples, enabling them to execute their good plans. As to the strength which she has at command for them, cf. Ecclesiastes 7:19, "Wisdom strengtheneth the wise more than ten mighty men which are in the city" (cf. Isaiah 36:5). Also spiritually, 2 Timothy 1:7, "God hath not given us the spirit of fear, but of power, and of love, and of a sound mind."