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Just hooked the TH up to a Real Scope and it reads about 5.5 volts peak to peak!!!!! Mystery solved. Still can’t understand why my scope would read artifically high when reading a 1.7 mhz signal.
Here the carrier at 1700 Khz (0.2 volts per division)
Here’s the signal modulated by a sine wave from a signal generator:
I guess I see that the modulation looked asymmetrical about the 0 volts. The negative peaks look somewhat squashed.