Transmission and ABS problem

While going down the road my '97 Z71 acts like it is in neutral and the ABS light comes on. If I slow down to a complete stop I can accelerate but as soon as I stop accelerating the transmission will disengage. Also, the speedometer goes to 0 mph. if I turn the truck off and restart, it seems to run fine. Is it the transmission control module? ]

Got any ideas?

I am having the same exact problem with my 95 silverado!!! In fact, I just came in from working on it. Does yours do it once in a while or all the time? Mine is very intermitten...it only does it sometimes. I took it to 2 mechanics and they put the scanner on it and said I had a bad speed sensor. So I had the 2nd mechanic change it and it did not fix it. In this forum go to search thread and look up "95 shifting problem". Another guy was having the same problem with his truck. He said the ignition switch was the problem on his so I just changed it and the second I pulled out of the driveway the ABS light came on! I am going to take it back to the mechanic tomorrow!! This sux!! Good luck!