Actually, you can also hook the timing light to plug wire #6, since both #1 & #6 pistons are at TDC, when the balancer timing mark is on zero. The flash of the timing light will show up on the balancer at exactly the same time, whether using #1 or #6 plug wire.

But, obviously, there will be a 180° difference in the position of the rotor, since #1 & #6 terminals are exactly opposite one another on the dist cap.

Rotate the dist clockwise to increase timing, and counterclockwise to decrease timing. I always tighten the dist hold down bolt to where I can still rotate the dist by hand, but tight enuff so that it won't move by itself, from just the engine running. Then, tighten it on down, after the timing is set where you want it.