I Agree With Chuck. Pull The Plug Out Of Number 1 Hold Your Finger Against The Spark Plug Hole And Bump It Over With The Starter Till It Sucks. Stop. Trace The Sp Wire For #1 Back To The Cap And See Where The Rotor Button Is.....
Close. You feel for the compression pushing out, not sucking in...
What I do is get the thing on compression storke (the air pushing out,) then look for the TDC mark. Turn the engine clockwise with a socket until the mark is lined up with "0". Regardless of the rotor direction, this is TDC on compresion on the crank. Then, look a tthe rotor direction. It should be pointing either at #1 cylinder, or slightly forward of that. Then, turn the engine counter clockwise very slowly, and look a tthe rotor while you try to turn the crank. The instant the rotor begins to turn at all, stop, and see how far back the mark on the balancer is from the "0" mark. If it's more than about 5°, the timing chain is stretched, but ok. If it's more than 6°, replace the chain. It definately sounds like a slipped chain.