I had a trouble code come up saying a problem with the speed sensor. Where is it located, and what purpose does it serve? Also, could this be why my transmission does not shift to 2nd gear accurately. (It takes a while to shift)

 

your speed sensor is what makes the speedometer work. it is located on the tailshaft of the transmission on the drivers side. check your tv cable and make sure it is adjusted correctly. i'm sure some one that is more knowelable in automatics will let you know if there is anything else to check.