Pull the #1 spark plug, hell pull them all, you need to change them anyway and it makes it easier to turn the engine by hand. Find 0* on the balancer and mark it, while you are there mark 10* , 12* and 14* btdc too, hold your thumb over the #1 plug hole and crank the engine till you feel air push out, this is the piston coming up on tdc, stick a thin screw driver in the plug hole, crank the engine by hand feeling for the piston to move the screw driver, you can use the piston moving the screw driver to feel the piston move up than down, as it stops moving up that is tdc, your balancer should be at 0* and the rotor should point to the #1 spark plug wire tower on the distributor, oh, forgot to mention you need to mark the outside of the distributor where the #1 plug wire is.
While you are fooling around finding tdc/ rotor pointing to #1 plug wire, move the balancer back and forth noting how far you have to turn the balancer to make the rotor move, this can tell you how worn the timing chain is, although timing chain wear is less of an issue now than in the past.