There are two wires at the CTS...
This is the 5 volt signal
the engine controller sends out to the sensor.
This is the signal ground/return
1)Disconnect the CTS connector, connect the black lead of the meter to a good ground.
Turn the key to the On position and using your meter touch the + probe to the TN wire terminal.
(Do not push the probe into the terminal as this will spread/damage the terminal, just touch it).
You should be reading 5 volts (4.90 is acceptable)
If you reading 5 volts move to step 2.
If you are not reading 5 volts the next step is to check for 5 volts at the engine controller connector.
The 5 volt signal comes from the Logic Module Black (TBI, Blue on Turbo) Connector Cavity #23.
(The LM is located behind the R/S (passenger) kick panel.
Again check for 5 volts by backprobing the LM BK Connector Cavity #23.
Is there 5 volts present?
If Yes then you have an open wire between the LM and CTS.
If no, verify there is no damage to the connector/terminal.
(It is very common for these terminals to become corroded from moisture entering the inside of the vehicle, usually from the antenna mounting).
2)Disconnect the CTS connector and the LM White (TBI, Red on turbo) Connector.
Set your Meter to the 200 Ohm's scale (Ω).
(Ohms are a measurement of resistance in a wire/circuit)
In this case we are going to check to see if the wire from the LM to CTS has continuity (a complete circuit) or if it is open (broken).
Touch your meter probes to the terminal on the BK/LB wire at the CTS and the other to the terminal at Cavity #25 of the LM WT connector.
You should be reading less than 5 ohms.
(An open circuit (infinity) will be displayed by an OL (out of limits) or whatever your meter reads when set to ohms and the two probes are not touching, when you touch the two probes together the meter should read "0".)
OL may also be displayed if the resistance in the circuit is higher than what your meter is set to, IE...
You are testing an ignition wire that will have approx 3000 (3K) ohms per foot but your meter is set to a 2000 (2K) scale.
In this case checking a wire with no load device in the circuit (light bulb, relay, solenoid, sensor) we want less than 5 ohms resistance.
Do you have continuity(does the meter show an ohm reading which would indicate a completed circuit) and if yes is it under 5 ohms.
If you do not have continuity then we need to locate the open in the ground/signal return wire.
Again, corroded, damaged terminals in the connector or LM could be the cause.
If you have corroded terminals first use a spray battery cleaner to neutralize the corrosion and clean the terminals using a soft toothbrush or Q-Tips, be gentle with the brush.
Once the majority of the corrosion is clean on the connector and LM use an electrical contact cleaner on both the connector and LM.
Spray both then connect/reconnect the connector a few times and repeat, this will help to remove corrosion/oxidation from the inside of the terminals.
Now that you are thoroughly confused...
Enjoy your Labor Day and I will be back on tomorrow.