Right, 4-speed... but the 700R4 also has a locking torque converter... can feel like another gear but not really. Just takes the fluid coupling out of the picture. Perhaps that is what the OP means? Good chance that is not working properly.
Originally Posted by cjm94
Blowing white smoke sounds like its burning coolant. Oil would be a blue color. As far as the trans not shifting into fifth or sixth gear it only has four.