1998 S70 has flashing arrow and check engine light, with a 740 code, it refers to a TCC Circuit Malfuction. I have driven this car for over 2000 miles with this code, and the car drives fine and shifts like it was new. The car has 180,000 miles and I changed tranny fluid every 30,000 and the fluid is very clean. Of cource the volvo dealer said I need a new tranny. I think it could be electrical. I need help!

 

Torque converter clutch solenoid might be going bad. Regardless the trans may still need work. Do you notice if the overdrive works correctly? How many RPM's are you running at 65 MPH?

 

Check engine light and flashing arrow have been out for the last two days, this makes me think it could be a bad ground or a loose wire and not a solenoid, this has me perplexed. Engine rpms at 65 miles per hour are 2350-2400, I don't think that is to high.