Bad feeling about transmission

[JBoggs]

86 56osl Automatic

Last couple of days the transmision has been sort of not right. Late shifts, flairing, just sort of odd. This morning I noticed a little bit of fluid on the floor but since I was only going a mile I went anyway. On return I had a hard time getting the shifter to go into park past reverse. I worked the shifter back and forth a few times and it finally went into Park. Uh-oh. I ran through the gears a few times and put it in reverse to back down the driveway and see what would happen. Reverse wasn't there. I pushed the shifter a few times back and forth and finally reverse caught. I went for a drive around the block and noticed a little bit of a whine when shifting. I also noticed a ticking from underneath the car (I think) but haven't been under yet. Tranny fluid is about 1/4 inch below full and looks OK.

Is this going to get ugly?

Thanks.

JBoggs