Volvo: up arrow light, dash board, lorinda

Question
I just bought a 1989 740gl volvo.  A red up arrow appeared on my dash board.  It went a away after a while, and it hasn't returned.  But I'm curious, What does that mean?  I have never seen that on a car before

Answer
Lorinda,
The arrow indicates "overdrive off". What that means is that the car will only shift into 3rd gear and not 4th or overdrive. It is possible that you without knowlege pushed the little button on the shifter handle not knowing you had turned off the overdrive. As long as the arrow remains off the trans should be shifting into overdrive. You can be sure by starting from a stop and feeling for the trans to shift three times.