Check engine light on , traction control comes on and service traction control light comes on and lose of power

That's normal operation for automatic traction control.

What it looks like: The traction control warning light typically takes the form of the acronym "TC." Sometimes this light is a small illuminated picture of a car losing control What it looks like: The traction control warning light typically takes the form of the acronym "TC." Sometimes this light is a small illuminated picture of a car losing control. How this system works: Traction control uses wheel speed sensors to detect when one or more of the car's wheels lose grip and traction. When the system registers a loss of traction in one or more of the wheels, a computer will limit power to the wheels that are still in solid contact with the road to prevent a skid. Common reasons for this to happen:

• ABS is malfunctioning: Traction control and ABS (anti-lock braking system) often share the same control module and internal self-diagnostics system. As a result, sometimes an issue in the ABS can trigger the traction control light. If this is the case, then both the ABS and Traction Control lights will be on.
• Broken wheel speed sensors: Wheel speed sensors are usually in the wheel bearing assembly, and determine the rate at which each wheel is moving. The sensors relay that information to the traction control module, which determines whether or not power needs to be shifted. Wheel speed sensors can get dirty or damaged and stop working, which prohibits the traction control module from knowing when to enable the system.Traction control module is faulty: The traction control module - which, again, is often shared with the ABS - can malfunction and break altogether, causing the system to stop working. What to expect: A top-rated mobile mechanic will come to your home or office to determine the source and cause of the traction control issue, and will then provide a detailed inspection report that includes the scope and cost of the necessary repairs. How important is this service? It's important to have the traction control issue investigated as soon as possible, as adverse driving conditions can arise at any time. While your car is unlikely to incur further damage from a faulty traction control system, it won't be safe to drive in rain, snow, sleet, or other inclement weather, or even possibly through pools of water on the road. Furthermore, the issue that is causing the traction control light to illuminate could also be impacting the ABS.

Bad wheel sensor. Have the ODB codes read at your local auto parts store or repair garage to figure out which one.

The traction control system DOES cut your engine power when the tires spin. That is by design. The system cuts engine power to stop the wheels spinning and restores power once the wheels regain traction. It feels odd when the tires spin and power cuts out. It's good practice to lift off the accelerator when the system kicks in. Otherwise, if you are on gravel or slick streets the tires may spin, stop when traction control kicks in, and then spin again when power is restored. It is not an "elegant" solution but it does work for the most part.

Actually you may be losing slight power, but just can't tell. Try going to Autozone and having a FREE diagnostic done.

Use the scanner diagnos and reset because your tire slide the snow the traction is on

Did you check for codes & google them,
to see what system has a possible fault

This is a common problem with GM's. The TPS sensor goes bad in the throttle body. Throws out a message to service Stabilitrac. Not SO!!!
The kicker is that the whole throttle body has to be replaced because the TPS sensor is actually part of the throttle body!!! Costs around $250.00 for aftermarket.

what kind of light,check engine, abs,traction control? usually if the check engine light or service engine soon light comes on under heavy acceleration it leads to a bad O2 sensor. check the ECM for history codes.

An ABS sensor DOES affect the traction control system. Traction control uses these sensors to determine if a wheel is losing traction. A bad sensor will cause both the ABS and TRACTION lights to come on.
The CHECK ENGINE light however is going to be a seperate problem.