| As bgwoody said it is your power steering fluid but When the cap on the reservior says/reads ATF it means just that; ATF (automatic transmission fluid) and that is what you add to the power steering fluid. Dexron/mercon will do NOT another power steering fluid like DOT stuff.
the oil leak from the under hose is very common, if the hose is so bad cut a small piece out of the deteriorated tip of the hose, if not just reattach to buttom by using a good quality clamp to tighten), don't over tighten-- you may break the plastic!!!!!
good luck
billb | 
