What does a positive autoantibody and elevated sed rate mean?

Inflammation. Elevated sed rate usually indicates inflammation that may be due to infection or other causes, such as autoimmunity. Elevated sed rate and positive autoantibody (ana, i presume) warrant further investigation to diagnose or exclude an autoimmune disorder like rheumatoid arthritis, sle or the like.
Fighting something. A test to see if your body is reacting to something inflammatory is a sed rate or c reactive protein. The auto-immune antibodies check you to see if you are reacting to a particular entity like rheumatoid arthritis or lupus.