Blinking light on dash board
It may be possible that your Park Neutral Position Switch (PNP Switch) is getting ready to fail. The switch is located right on top of your transmission and is connected to your shifter. This is a common problem. I doubt that your entire transmission is failing, because that is rare with the S70 line. Has your check engine light come on? The check engine light can be triggered by the failing PNP switch. You should take the car to a autozone if you do not have a code reader to see if this problem is sending a code to the computer. If you are unsure where the port is for the code reader, it is located inside of the center console armrest and has OBD II on it. It will same something such as Transmission position switch failure....if I can remember correctly when it happened to me. If it displays this message, then it is definitely the PNP switch failing. If the PNP is failing be careful. Mine failed failed when I pulled into a parking space and as soon as I put the car in park, the check engine light came on my and the red arrow started flashing. I thought something had gotten wet and I decided to turn the car off for a reset, however, it would not let me start the car, because it thought the car was in some other gear besides park or neutral. So you should have it fixed ASAP. If you order the parts online, it can be a cheap fix. fcpgroton.com has this switch for a cheap price with great quality. How many miles do you have on your S70? My switch failed at 110,500.
Are there any other lights on? It is common for the ABS module to fail on these cars. Other inputs are routed through the module. It will cause chk eng light, intermittent ABS light, and sometimes the blinking amber arrow. The upshift arrow would indicate that the transmission is in limp home mode. These lights are all most likely tied to the ABS module. These modules have soldering points on the internal circuit board that crack, causing the problems. There is a guy in California that repairs them--Vic Rocha, if that is your problem. He can be googled.
