BB and KlausC,

Problem solved! It was the green wire bullet connector to the fuel injection relay, mounted near the fan. I purchased a fuel injector relay and fuel pump relay in preparation for eliminating the no start issue.

While replacing the fuel injector relay, the green wire was disconnected from the 4 prong connector. I installed the new relay and ensured that the green wire bullet connector is connected to the relay. I wrapped the wires with high quality electrical tape, ensuring the green wire stays connected to the relay. My next trip to the boneyard I will get another connector with better wiring and replace it.

I bought plugs, rotor and cap and will install those shortly. I also bought a crank sensor, which I will likely install to eliminate potential failure in the future. My coil and cam sensor are new.

My Volvo guy missed it, as I checked for spark prior to replacing the relays and there was spark. I removed and cleaned the ECU contacts.

Both of you gentlemen gave me the confidence that I could solve this puzzle, which started with code P0120 and a flashing arrow on the instrument panel.

Both of your help is much appreciated. Thank you!