Limited explanation- only reactive
One limitation of Ellis's ABC model of depression is that it only explains reactive depression and not endogenous depression.
There seems to be no doubt that depression is often triggered by life events - what Ellis would call 'activating events. Such cases are sometimes called reactive depression. How we respond to negative life events also seems to be at least partly the result of our beliefs. However, many cases of depression are not traceable to life events and it is not obvious what leads the person to become depressed at a particular time. This type of depression is sometimes called endogenous depression. Ellis's ABC model is less useful for explaining endogenous depression.
This means that Ellis's model can only explain some cases of depression and is therefore only a partial explanation.