Too much fuel?

I used the ruler part of a carpenters square to line up the two dots on the gears.
I didnt look at the harmonic balancer, it is an aftermarketone. The original wasnt doing too well.

both marks pointing up, both down, both in or both out?

and it might be helpful to verify the marks on the balancer are accurate
no point in trying to get the timing set if you dont actually know how the number on the balancer relates to the piston