Yes- the v is 'down'. The v^ is down,up. By 'down' I mean the dominant direction that you tend to strum in- some folks strum inwards towards their body on major notes, others have an outwards dominant direction, away from their bodies. Thus, my v means your dominant direction strum. Easy to think of it as 'down', while the ^ is strummed as you go in the return direction of the strum. For more on this, use the blog's right lower keyword search feature and choose 'strumming' for various posts on strumming tips.
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Those irritated by grain of sand best avoid beach.
-Strumelia proverb c.1990