http://www.azlyrics.com/lyrics/fray/overmyheadcablecar.html
“I never knew that everything was falling through
That everyone I knew was waiting on a cue”
“As you lose the argument in a cable car
Hanging above as the canyon comes between”
The line that states everyone was waiting on a cue, simply means that everyone in his life is absent in his life. He waits for their response, action, or anything to show that they care but they show nothing. Everyone needs to be told what to do and they cant have their own mind. Everyone waits to see what other people are doing, and telling them what to do, before they even do it. The line tells you that he needs people to start acting on their own instead of relying on others.
Hanging above as a canyon comes between. A deep hole comes in between two people, in the middle of an argument you begin to see a distance and no way to resolve it. There is no way around this problem it is massive and filled with water. Your hanging above this problem with nothing else to think of except whats below you. You have to face the problem and it isnt going to be easy.