No blown fuse, then dump the codes to see if codes 27 or 29 are present. If so you have VSS problems, either a bad sensor or bad connections or wiring.
Dumping the computer diagnostic codes on 86-95 Mustangs
Revised 18-Mar-2011 to advise differences in code information for engine running and engine off codes.
Here's the way to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great. You watch the flashing test lamp or Check Engine Light and count the flashes.
Be sure to turn off the A/C, and put the transmission in neutral when dumping the codes. Fail to do this and you will generate a code 67 and not be able to dump the Engine Running codes.
Dumping the Engine Running codes: The procedure is the same, you start the engine with the test jumper in place. Be sure the A/C is off and the transmission is in neutral. You'll get an 11, then a 4 and the engine will speed up to do the EGR test. After the engine speed decreases back to idle, it will dump the engine running codes.
Here's the link to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great. You watch the flashing test lamp or Check Engine Light and count the flashes.
If your car is an 86-88 stang, you'll have to use the test lamp or voltmeter method. There is no functional check engine light on the 86-88's except possibly the Cali Mass Air cars.
The STI has a gray connector shell and a white/red wire. It comes from the same bundle of wires as the self test connector.
89 through 95 cars have a working Check Engine light. Watch it instead of using a test lamp.
The STI has a gray connector shell and a white/red wire. It comes from the same bundle of wires as the self test connector.
WARNING!!! There is a single dark brown connector with a black/orange wire. It is the 12 volt power to the under the hood light. Do not jumper it to the computer test connector. If you do, you will damage the computer.
What to expect:
You should get a code 11 (two single flashes in succession). This says that the computer's internal workings are OK, and that the wiring to put the computer into diagnostic mode is good. No code 11 and you have some wiring problems.
Some codes have different answers if the engine is running from the answers that it has when the engine isn't running. It helps a lot to know if you had the engine running when you ran the test.
Trouble codes are either 2 digit or 3 digit, there are no cars that use both 2 digit codes and 3 digit codes.
Alternate methods:
For those who are intimidated by all the wires & connections, see Actron® for what a typical hand scanner looks like. Normal retail price is about $30 or so at AutoZone or Wal-Mart.
No code 27 or 29, look for vacuum leaks or broken vacuum lines. Be sure to check the wiring & switch on the clutch pedal to make sure it operates correctly. Also check the vacuum dump on the brake pedal.
Diagram courtesy of Tmoss & Stang&2birds
See the following website for some help from Tmoss (diagram designer) & Stang&2Birds (website host) for help on 88-95 wiring Mustang FAQ - Wiring & Engine Info Everyone should bookmark this site.