i'm guessing the "low trac" light pops on when the rear wheels are spinning. probably in rain or slick conditions. it's just alerting you that there's low traction. ABS inop is telling you that the ABS(anti-lock brake system) isn't working correctly. you may want to have that checked since the ABS might not work when its needed. hope that helped.
Both of those lights should be giving a code. Autozone may be able to pull the codes and tell you what they mean. On a car that new it may be as simple as a fuse for the ABS Computer. How many miles are on it? Your local Chevrolet dealer should be able to help out with an owners manual. Or try Ebay. You would be surprised on the amout of Camaro stuff out there. Good luck
Both of those lights together probably indicate a problem with one of the wheel sensors (reluctors) used by the ABS system. Probably one of the rear ones. One of them is broken, disconnected, or bent away from the reluctor on the wheel, so that the ECM is not getting a signal from that wheel. Therefore it is seing a difference in wheel speed and disabling the ABS system and your traction control system.
Some ECM's will actually tell you which wheel is giving you a problem if you can extract the codes from an OBDII system. Autozone or the like have code readers and some of them will pull the codes for you.
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