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maybe a wire shorted out and needs cleaned and re connected.
 

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Does your neutral light come on and the electric start work? If it does, then, I would check the resistance of the ignition coil, stator, and pulse generator.
 

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I am having the same issues..no spark on a TRX500. I measured the input voltage across the black and green wires going into the magneto and it starts at 14V and slowly goes down to under 1 volt. Doesnt seem to change much when cranking either.

How do I measure the resistance properly. What resistance readings am I looking for ?
 
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