Using the ice pick type test light, ground the pigtail lead and touch the coil terminal connected to the distributor wire. (- terminal, if the coil polarity is correct). With the points open, the light should illuminate. Tap the starter, roll the vehicle forward in gear, or use some other method to turn the engine slightly until the points close. With the points closed, the light should go out. If the light does not illuminate with the points open, you have a grounded circuit upstream of the points, like where the stud goes through the side of the distributor. If it does not go out with the points closed, you have dirty or oxidized points, or an open circuited primary wire between the coil (-) terminal and the distributor. A shorted condenser can also cause a no spark condition. Once you get the test light connected to the distributor side of the coil flashing on and off as the engine is cranked, you should also get a spark at the plugs.
Jerry


"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
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