Transmission Code P1870

Can anyone give me more information on the P1870 code? My check engine light is on. Auto Zone gave me the code and said it was a transmission problem. I took it in to a transmission shop and the guy said it was my torque convertor. He then said to drive it until I need emissions (which is June 07). The car has 129K miles. He also said I will need an overhaul. Bottom cost around 1500.00. Before I spend any money, I want to make sure. The light came on recently after I towed another car about a 1 mile.

p1870 indicates a component slippage situation, which could have been cause by towing the other vehicle. This overloaded the trans, and caused it to slip. There may not be anything actually wrong, the system was just detecting slippage.

p1870 indicates a component slippage situation, which could have been cause by towing the other vehicle. This overloaded the trans, and caused it to slip. There may not be anything actually wrong, the system was just detecting slippage.
Just to add there is also a possibility this is caused by a worn valve body at the tcc valve bore area, sets this code also. This can be checked on an trans capable scanner that can detect tcc slippage and percentage of line pressure comp.

Do you think I can reset the code and wait to see it if comes back?

Do you think I can reset the code and wait to see it if comes back?
Unless the trans is acting up now, there is nothing to loose.

what year lumina do you have.

I have a 1996 Lumina. Sorry for the late response.