92 Accord - Gear Slip While D4 Light Out

I have a 92 Honda Accord LX with automatic transmission. Recently while driving the car, I noticed the transmission to occasionally "buck" or slip, during which, there is noticeable and sudden deceleration if I release my foot from the gas pedal. While this occurs, the D4 light on the dashboard blinks off. When I press on the gas pedal thereafter, I can often resume driving the car without the problem occurring again. At this point the D4 light reappears, and the car drives normally. Only rarely has this activity occurred more than once during a trip.

I have checked the solenoids, and they are clean, and I can hear them click when I shift the car from park to drive and back. I suspect the problem is electrical since this problem started and occurred during a period of rain, and it has not seemed to occur over the past two days when it has been dry.

I would appreciate any thoughts on identifying and correcting the problem. Thank you!

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Problem is electrical, specifically the input signals to the computer. It should be expected to slip when the light is extinguished, since the computer has no idea what gear it's supposed to be in. The gear position sender is on the side of the tranny and is probably worn out or out of alignment, possibly because your shifter cable needs the length adjusted. Please mention the mileage and service history, like what kind of fluid you put in it when you last did a drain-n-fill. There's several TSB's that include the cable length adjustment here:

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Test / adjust the position sender's adjustment first with cable disconnected, then adjust the length of the cable if needed.

'Curly'