The abs and low trac lights are likely related. ABS is the anti-lock brakes, and TCS is the traction control system which needs the anti-lock brake module to function correctly. The TCS lamp will come on with just about anything that sets a trouble code in not only the ABS but also many of the fuel injection system hard faults will cause it too. The TCS operates by the computer first quickly detuning the engine when it senses one of the front wheels spinning, which it detects through the ABS wheel speed sensors. Then if necessary the ABS actually starts pulse locking the brake on the wheel that is spinning, and that causes power to transfer to the other wheel, increasing grip, and reducing wheel spin. I suspect you have an ABS system issue that will need diagnosed. The red arrow down lamp is a good question, I can't think of what that might be off hand. First suggestion is to check the owners manual and see what they are using that for, but of course somehow I expect your gonna say the car didn't come with the owners manual. I'm away from the shop so I can't even check my information system to see if its listed, but really I would not expect it to be, or at least it will be difficult to search for it by what the light looks like.

If you have an automatic transmission, you may be experiencing problems with the lock-up clutch. A sensor controls the voltage to the lock-up clutch and this is a common failure with GM lock-up clutches. The fix is simple - replace the sensor. To diagnose, temporarily disable the clutch by unpluging the lead to it. If this is the problem, it disappears when unpluged and re-appears when reconnected. The sensor is failing. Within the range of 45 to 55 mph, the lockup feature may be disengaging and engaging when the throttle position is suddently changed by a significant amount and will cause a small lurch. This is normal, however, lurching increases when the torque control part of the engine mount is worn. It may need replacing.

Probably the interlock need adjusting, or it has some worn parts that need replacing. Banging it around is no cure and may worsen things. Get it fixed and loose the agravation.

First, I don't live on my PC, I was away all weekend. So your not getting a run around. Second, you have NOT described the problem sufficiently for me to know whats wrong with your car. One thing is certain though, I do NOT suspect the torque convertor (a transaxle component) based on the pieces of information that you have provided. Now that is not a diagnosis that is saying it's not bad, I'll repeat, I don't suspect it's the problem. But there is a definate problem with getting you to verbalize in a way that allows me to "feel" what your car is doing without me having first hand experience driving it while it's acting up. You cannot blame a shop, a technician, or someone on this board, be they a technician or not for your failure to be able to communicate to us(me) exactly what your car is doing. FWIW, it's quite likely the problem with your car is engine control related. But before I type out a series of questions in order to attempt to draw from you what I would need to know in order to even try and figure out whats going on, you have to agree to answer them in a yes, or no fashion. Plus then add details as you feel necessary, without trying to decide in advance what you think the problem with the car is.