1996 Mercury Mystique, Zetec, ATX, almost 160,000 miles.
  Everything was fine this morning, driving to church.
  On the way home, a few hours later, the transmission behaved oddly. It was letting the engine rev awfully high before it shifted out of first gear, and after a while, the O/D light began to flash.
  After changing out of my suit, I fired up my
Alex Peper OBDâ??II thingy, and went for a drive. I've determined that it is waiting much too long to shift out of first, at which time it shifts into second, and then almost immediately into third. At third gear and above everything seems to behave normally, except that the O/D light does begin flashing after I've driven for a while.
  I've pulled the following two DTCs:
    P0732:  Gear 2 ratio
    P0734:  Gear 4 ratio
  I dunno why the P0734 code. When the OBDâ??II data indicate that the car is in 4th gear, the car does indeed behave exactly as expected for 4th gear. When the OBDâ??II data indicate that the car is in 2nd gear, the car behaves as you'd expect it to in 2nd gear, considering that every time it's been in 2nd gear since this began, it has been at a speed where 3rd or 4th would have been more appropriate.
  I checked the transmission fluid. It looked clean, and there was the right amount. (It is yellowish, though; shouldn't ATX fluid be red?). I added a can of
Transâ??X, but that didn't seem to help.
  Any ideas? Â