i was driving today, and all of a sudden my ABS light turns on and my Traction Control light.

Says Service traction control / service ABS

tried searching old threads.. wheels sensor?

 

First look up a thread that shows how to access codes, write them down and get back to us. It could be any number of things but without the codes we can't really help you.

 

look up codes this way & if you get a wheel sensor code, follow next paragraph's instructions:

with the key in the on position, but the engine not running
push and release the reset button until all messages cleared
next push and HOLD button #4
next push and release button #1 four times while holding button #4
When first engaged the on-board diagnostics go into an "automatic" mode which shows all parameters: PCM-TCS-RTD-BCM-IPC-radio-HVAC-LDCM-RDCM-SCM-RFA. If there are no problems, you will see "no more codes" on the ICP display. The computer will show two kinds of codes, "current" and "history," designated "C" or "H". A current code indicates a malfunction is present in the system whose module is displaying data. A history code indicates a past problem. When the screen displays "manual diagnostics," select the desired module by pressing the "options" button to go forward or the "trip" button to go back. Press "gages" to go forward or "fuel" to go back. To exit the diagnostic mode at any time, press "E/M".
If you want to erase or "clear" codes, press "reset."

Wheel Speed Sensors
Code C1221 - 1228 indicate that one of the wheel speed sensors is either sending a bad signal or no signal. Start by checking the connections. The wheel speed sensors are integrated into the wheel bearing/hub assembly. The wire coming out of the back is the connection for the wheel speed sensors. Verify that the connector are not broken, damaged, or corroded in any way. Pay particular attention to the female end.
The wire coming out of the wheel speed sensor connects to and 18" jumper harness, then to the main harness. It is very common for people to have a weak female pin in one of those connections. If all of that checks out good, swap the jumper harness from side to side. For example if the left front is bad, swap it over to the right front. And install the good one from the right front to the left side. Then clear the trouble code. If the trouble code is now on the right side, you know the wire harness is the problem. If the code is still on the left side after swapping the jumper harnesses, you know the problem is inside the wheel speed sensors.
If all the wires check out good, it's time to take a trip to Auto Zone for a new set of bearings. You can buy replacement AC Delco bearing from your dealer if you want to, or get the exact same bearing in a different box for half the price (~$150) from Auto Zone, you decide. The bearings should be replaced in axel sets, so if your left front is bad, you have to replace the right front too. While you’re at it, this is a good time to upgrade the lug studs and add spindle ducts.

 

Do you have Euro lights in the rear? I've had similar problems which I've always fixed by simply unplugging/plugging the connection under the right rear wheel. I have the connection zip tied now.