I have a 98 Silverado reg cab Z71 127,000 miles. when im on the highway and it is in 4th gear it has no power. I push the gas pedal up to 3/4 and nothing, not reving up and not going any faster. If I push the gas all the way then it downshifts to 3rd and and starts going. I had an error code earlier and it was p1870, and i really hope I dont have any transmission problems. also has the abs and brake lights come on and off. They stay on for about a day then go away for a day and it comes back. Anyone have any ideas or some help?

 

This GM service bulliten might apply to your vehicle:

TSB # 01-07-30-023A
Harsh 1-2 Upshift, SES, MIL, or CEL Illuminated, DTC P1870 Set (Replace Valve Body)
1996 Buick Roadmaster
1996 Cadillac Fleetwood
1999-2000 Cadillac Escalade
1996-2000 Chevrolet Camaro, Corvette
1996-2000 Pontiac Firebird
1996-2000 Chevrolet and GMC Light Duty Truck Models
1996-2000 Oldsmobile Bravada
with 4L60-E Automatic Transmission (RPO M30)
Built Prior to January 15, 1999 (Julian Date 9015)
This bulletin is being revised to update the Parts Information

Please discard Corporate Bulletin Number 01-07-30-023 (Section 07 -- Transmission/Transaxle).
Condition
Some customers may comment on a harsh 1-2 upshift and the Check Engine Light or Service Engine Soon indicator is illuminated.
Diagnosis
Typically, these vehicles will have been driven more than 32,000 km (20,000 mi) before this condition occurs.
The scan tool may show a DTC P1870 set as a history code.
A harsh 1-2 shift or DTC P1870, caused by wear in the control valve body, may be difficult to duplicate when the transmission temperature is below 93°C (200°F).
Cause
The condition may be due to wear in the control valve body. This wear occurs in the bore that contains the TCC isolator and regulator valves, and results in poor, or no, TCC apply

Important
DTC P1870 is a type B code. The conditions for setting the P1870 DTC must occur on TWO CONSECUTIVE TRIPS (ignition cycles, with a drive cycle) before setting a P1870 history code.
When the conditions for setting DTC P1870 are met (first trip), the PCM commands maximum line pressure and harsh 1-2 shifts are the result.
This may result in a harsh 1-2 shift with no history code if the conditions for setting the DTC required for the second trip are not met, on two consecutive trips (Ignition cycles, with a drive cycle).

When the conditions for setting the DTC are met, on the second consecutive trip, a DTC P1870 is stored as a history code.
When the P1870 code is stored, the PCM will turn on the Service Engine Soon (SES), Check Engine Light (CEL), or Malfunction Indicator Lamp (MIL).
Correction
Install a control valve body with the revised TCC regulator and isolator valves. These valves are used in all transmissions produced after January 15, 1999 (Julian Date 9015), and all of the service parts currently available through GMSPO contain revised TCC regulator and isolator valves.

Important
If all of the following conditions are true, it is not necessary to rebuild the transmission or to replace additional transmission components beyond the control valve body.

Transmission operation is normal before the transmission reaches operating temperature, or before DTC P1870 is set (no slips, flares, or missing gears).
The torque converter is not blue or overheated.
The transmission fluid is not burned or has no burned odor.
The transmission fluid pan contains no abnormal debris (clutch material, bronze, brass, or metal fragments

 

Your case it sounds like a worn out bore where the shaft for the TCC regulator goes in the valve body. A transmission shop can rebuild your valve body if you dont have the money for a complete rebuild of the tranny.