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Either a bad cap, or the distributor is worn and crankcase gasses are traveling up into the cap. Yes it could be a bad or cracked cap, however that was a typical problem with the 6cyl AMC's. After 1976 AMC did offer a kit which helped keep it dry, but it was not 100%. Over the years what I have done is spray under the cap and the distriuter under the cap with WD-40 or something like that which has the ability to disapate water allowing the metal to metal spark to occur
where is number one on a vortex 4.3 v-6 distributor cap
The marked # 1 position on the distributor cap faces towards the REAR
On the American Motors 304 cubic inch V8 engine : 1 - 8 - 4 - 3 - 6 - 5 - 7 - 2 The distributor rotor turns CLOCKWISE The marked # 1 position on the distributor cap faces to the FRONT The engine cylinders are numbered : firewall 8 - 7 6 - 5 4 - 3 2 - 1 front
Number 1 on the distributor cap is the top post closet to the firewall. Looking at the distributor cap it would be... top row 1-3 bottom 2-4
# 1 on the distributor cap faces to the FRONT / CENTER
Check your coil with an inline spark tester. If no spark to the distributor check for power to the coil. If power to the coil but no spark then coil is bad. If coil is sparking the problem is in the distributor. If no power to the coil trace back the wiring to the power source (battery voltage) Check the points to make sure they're gaped properly & not burned or corroded. Check cap & rotor while you're in there also. while the cap is off turn it over and check to see if the rotor (shaft) is turning.
Front righthand side of cap
The marked # 1 position on the distributor cap faces to the FRONT
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The distributor cap should have the number 1 marked on it. The distributor cap is installed with the # 1 position facing the engine , slightly towards the drivers side of the engine
The marked # 1 position on the distributor cap faces towards the firewall