when the two points connect, that should be when you have spark, if I am reading it correctly(I actually just dug into one 2 weeks ago).  Draw a diagram of what you are depicting?  if I remember right, the two wires from the coil and the condenser all connect on that little metal bit that sticks up from the mag plate, but I could be wrong.

just to reiterate, if the two points are connected and have continuity then that should be when the spark is.   try it on the motor and see if the spark happens when the pistons are towards the spark plug side of the cylinder if you are unsure.  Otherwise, a diagram of your current wiring might help if that does not work.