1999 Pontiac Grand Am low trac indicator

The transmission was rebuilt last year. When starting out, the low trac light will come on. Sometimes it may do this a number of times, going off and on. At some point though the ABS light will come on, and stay on, and another low traction indicator light will come on and stay on until the car is restarted. During this time the anti-lock bracking system is disabled. It seems as if I can somewhat control this by how I drive the car, avoiding quick acceleration or avoiding bumps or hard turns. This started around the same time the right front wheel bearing was replaced too. The car feels as if it's slipping when this first happens. Once the other lights come on it drives great except for the fact you do not have the benefit of the ABS system.