Are you sure that the timing tab on your chain cover matches the balancer that you are using? On the older engines, the mark on the balancer is at about 2 o-clock when the engine is at TDC. On the newer engines, the mark on the balancer is straight up (12 o-clock) at TDC. You said you have a new engine, so depending on the vintage of the balancer and the timing cover or tab, there could be a mismatch.
Tim
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