Just in the last couple days, the car's dashboard water temp. indicator has been travelling beyond the 100 degree mark, and has been fluctuating. When the meter showed 120, I turned the car off, and sniffed around under the hood. I would have expected to smell some steam, and feel the engine heat, but it didn't feel any warmer than it usually is right after I stop it. The aux fans were going overtime, but that doesn't seem to affect the temp reading that much.

As I drive, it goes up and down, and often it is reflective of how I'm driving, as in going down when I'm rolling due to the general air cooling, then climbing up when I'm not moving much, but this morning, even though I was going 60mph, and had been for a few minutes, the temp was not going down.
Last night, again when I was sniffing under the hood, I felt the water reservoir housing, and it didn't feel as hot as I would have expected it to feel for a supposedly 120 celsius fluid, and opening the cap, there was not much pressure that vented.
Unfortunately, I don't have a good thermometer to measure the actual fluid inside the housing, but I will be going to a shop this afternoon to have them look at it.
I'm just trying to get an idea of what possibilities there are for the problem. Could it just be a temp. sensor that's going out? Or could it be that the coolant is not flowing properly? Not sure. Any ideas?