I have a 92 940 GL non-turbo with 210k miles on it. I flushed the transmission and replaced the filter and kickdown cable about 4 months ago. The other day it started making a noise whenever the car is running (park, neutral, driving) that sounds like a really loud waterpump but continues to make the noise with the water pump, alternator and ac belts removed. My daughter said she was driving it and the rpms would increase but the car wouldn't go any faster and eventually it quit moving at all. I notice the transmission fluid is overfull now - about halfway up to the handle of the dipstick. The level has been fine up until now. It will shift into forward and reverse and move, but I haven't tried to drive it since having it towed home.

Any ideas on the noise and why the fluid level would be so high all of a sudden?

Thanks.