You need a timing light
It is computer controled and not adjustable.
Get a manual on your car.
you turn the distributor and use a timing light
To set the timing you unplug the temp. sensor in the thermostat housing and set the timing to 12 degrees before T.C. with the automatic trans.
Chevrolet s10 v6 2.8 liter pickup timing degree, how to set the degree
Click the link.
I have a 1990 and factory setting for base timing is 10 degrees, I believe.
It's computer controlled. No timing adjustments are possible.
the timing should be set top dead center with the number one spark plug
the water pump is located next to the throttle body. there is no reason to set the timing.
You will do better to purchase a haynes manual, specific for your car. That will ensure that you get your timing marks right. To set the timing you will need to disconnect the coolant temperature sensor to get the system to respond. Once set you will need to plug it back in.