The equation ψ(y,t)= -2A sinky sin wt represents a standing wave, which oscillates in time while maintaining a constant peak amplitude profile in space. This phenomenon occurs due to the superposition of two identical waves traveling in opposite directions, creating a disturbance that does not propagate. Unlike destructive interference, where waves cancel each other out at a point, standing waves result from the continuous interaction of these waves without movement. The key characteristic of standing waves is that oscillations at different points are in phase, leading to a stationary pattern. Understanding this concept is essential in optics and wave mechanics.