I'm not exactly sure what the problem is... Looks like the second shot is a signal peaking at around -6dBFS (which is a little hot, but not completely insane) with the 'meat' sitting around -15dBFS (although that's only a guess from looking at a photo).
If you're talking about tracking levels, you're in WAY better shape than the top photo (which is right up around full-scale).
That said, we'd need a whole lot more information just to guess at anything else. What's the source, what's the application, what's the distance, etc. This is one of many reasons that displays are relatively worthless most of the time...