I jump im my pony this afternoon and she starts right up. However, the dash reads that the engine is in "fail safe". I push the reset button on the dash and the message disappears. I then turn the car off back on and there seems to be no issues, what gives ?

BTW, it is cold (50 degrees) and raining, but the air filter was not wet and the car had not been driven, in other words engine was cold.

 

Little help...

 

Check for codes with your SCT?

 

50 degrees isn't cold...are you used to weather around the equator?

 

Just a long shot but did you check the carpet by the passenger side kick panel? Some of these Stangs have a water leak issue that sometimes causes some eratic electrical behavior.