96 Hatch; Electrical Problem

Okay so it recently started to rain, again and I notice my check engine light comes on and my speedo is going nuts. It will jump around from 0-pinned way past the 120 mph mark and almost back around to 0.

Any takers as to whats wrong with it? I think water got in somewhere and shorted something out. I tried pulling the battery cable to clear the computer but the light still comes back on within seconds after starting.

Im lost on this one.

Thanks for any help.

Run a check for which OBDII code(s) you have. I know Autozone will do this for free, possibly some other auto parts stores too. Once you know the code, then work from there.