...
When you see equal opposing amplitudes, you are actually looking at an "envelope" AM (amplitude modulated) waveform such as TurtleMeister has shown in his top pic above. As he mentions, the actual RF fine-lined high frequency dosn't show up here, inside the modulation envelope, because the CRT scope "drawing" resolution is too poor.
In AM, the broadcast transmitter takes the coarse low-frequency audio envelope wave you see directly from a microphone (or such) and increases, or decreases, (modulates) the envelope at this corresponding audio frequency. The antenna "pulses" it into the air. Since the top and bottom seem to cancel out (average out) at audio frequencies, they are cut in half (decoded) by a diode and the high frequency half "RF filler" discarded. The remaining envelope-half rises and falls from zero, drives a speaker, and you hear the sound wave only. Since the modulation process is a pulsing voltage, pulses from lightning often interfere.
Some crude depictions might show the envelope already cut in half, or even just the audio, and claim it is the AM signal, so keep this in mind.
FM (frequency modulation) works similar except the envelope is a set of continuously straight (instead of wavy) lines above and below the contained high frequency RF. In this case, one would need to see the fine RF lines in between the outer envelope limits to notice that the inner high speed waveform spreads (audio freq lowers), or contracts tighter (audio freq goes up) to recognize from the picture that a lower modulated frequency has been imposed upon the RF as an audio signal. Since the decoding receiver does not respond to pulses or voltage spikes (just frequency variations), lightening, and other sparks, have very little effect making a nice quiet background for the signal.
EDIT:
From wikipedia
http://en.wikipedia.org/wiki/Amplitude_modulation
You can see that "AM waves
do not have symmetrical amplitude" in that each RF wave alternates up, then down.
Wes
...