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I.e., there is no living being over which He has not complete control and which is not entirely dependent on Him (cf. verse {6} of this surah). When describing a person's humility and subjection to another person, the ancient Arabs used to say, "The forelock of so-and-so is in the hand of so-and-so". See in this connection {96:15-16}, where this idiomatic expression occurs for the first time in the chronological order of Qur'anic revelation.
Lit., "my Sustainer is on a straight way" - implying that He governs all that exists in accordance with a system of truth and justice in the ultimate, absolute sense of these terms, never allowing the conscious evildoer to escape the consequence of his deeds, and never letting righteousness go unrewarded, either in this world or in the hereafter (since it is only in the combination of these two phases that human life can be considered in its entirety).
lit., there is no moving creature that He does not hold by its forelock.
lit., my Lord is on the Straight Path.
Grasp of the fore-lock; an Arabic idiom, referring to a horse's fore-lock. The man who grasps it has complete power over the horse, and for the horse the fore-lock is as it were the crown of his beauty, the sum of his power of self-assertion. So Allah's power over all creatures is unlimited and no one can withstand His decree. Cf. xcvi. 15- 16.
That is, the standard of all virtue and righteousness is in the Will of Allah, the Universal Will that controls all things in goodness and justice. You are on a crooked Path. Allah's Path is a straight Path.