Kenric covered the other things to check. I've read that "pump starvation" secondary to a plugged trans. strainer will cause this problem also although not common unless the tranny has been really abused. Volvo no longer even recommends dropping the pan to clean this strainer as routine maintance. Pull your dipstick and wipe on a new, clean paper towel. Check with engine running in Park. Your fluid should be red in color. If it is brown or smells burnt you'll need a flush. Antifreeze will appear milky and is pretty unmistakable. Also inspect your expansion tank for telltale signs of ATF in the coolant. Resist the urge to remove that tempting little bolt in the tranny pan. Chances are 50/50 you'll strip it and have more problems than you have now. Get some 3/8 ID vinyl tubing from Home Depot, disconnect the upper tranny cooler line at the radiator and insert the tubing on the radiator nipple. Follow the procedure in the FAQ to flush. Actually seeing the fluid flow from the rad into a container will give you a very good idea of it's condition, better than looking at a tiny bit on a paper towel.. Good luck
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