Some lights may trigger, and some may trigger erratically, giving you incorrect, or rather, "jumpy" readings.
YOU SHOULD BE ABLE to time any engine "static" close enough to RUN WELL
If you have points dist, do this: Rotate the engine, no1 ready to fire, by removing no1 plug, and bump engine until it "starts" to blow your finger out. If you are not experienced, you may have to bump around a couple of times. When you are sure your finger is feeling compression, then LOOK AT the marks, and bump the engine 'til it finishes "coming up" to the marks, about where you want advanced timing, say, 10BTC or so for a stock cam.
Next, loosen the dist. and rotate it RETARDED until the points closed, next, do one of two things:
A Hook a 12V test lamp from points to ground (neg side of coil) and turn key to "run." Slowly rotate dist. ADVANCED until the lamp just lights. Check your work, tighten 'er down
B If you have done the above and get experienced, you can do the same thing WITHOUT a lamp. If out of sun, look for spark when points open. You can also "rig" a plug or gap from the coil wire, and watch or LISTEN for spark
IF YOU HAVE electronic ignition, you can visually set dist. close enough to run by setting reluctor wheel at center of pickup core, and IF YOU PRACTICE you can also "look for spark" as above by first retarding, then rotate dist. "to advance" and look for spark. Do this several times, going SLOWER with dist. rotation each time. You should, with a little practice, get fairly close "enough to run" with this method.
(Small block V8 and /6 dists rotate CW, so advance is CCW. BB and RB rotate CCW, so advance is CW)
Some other considerations:
What is the condition of the engine, is it worn enough that the cam drive may have slipped?
Maybe the dist is badly worn, advance mechanism stuck, etc?
Factory dampers ARE TWO PIECE with a rubber injection in between. THEY CAN SLIP which makes your factory timing marks incorrect. THIS IS EASY to check
Get / buy or make a piston stop:
Remove the no1 plug, make sure the piston is down far enough, and install in the hole. Disconnect the battery ground for safety. Wrench the engine around until it stops. Make a temporary mark on the balancer EXACTLY under TDC on the timing tab.
Next, rotate the engine the OPPOSITE direction, until it stops. Make a second mark on the wheel as above.
You will now have two marks some distance apart. True TDC will be halfway between the marks, and of course if the factory mark is correct,-- that is where it will be.