A comparison is made of magnetohydrodynamic waves observed near the equator on Explorer 45 and at an array of ground stations in the northern hemisphere and at their conjugate station at Siple, Antartica. The data comparisons strongly support the notion that the observed waves can be considered odd mode standing waves in the magnetosphere. This conclusion has important implications for the interpretation of single-point satellite and/or ground measurements of ULF plasma wave phenomena in the magnetosphere. Further, the data comparisons strongly suggest that the overall ULF (~5-30 mHz) power levels are quite similar in the magnetosphere and on the ground, at least during the intervals studied.