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I don't think any sensor will cause a no spark condition. Most likely you problem is in the pick-up coil or igniton module(TFI). My steps to diagnose a no start:
1: Using a 12v test light, probe the negative side of the coil while someone cranks the car/truck. The test light should blink. If it blinks, check the coil with an ohm meter and compair to service manual values. Don't forget to check the simple stuff like plugs/wires.
2: If it doesn't blink. Pull the coil wire and hold it over ground. Have the person inside the car turn the car to run then off. There should be a single spark. If you get a single spark the problem is in the pick-up coil. If there is no spark the ignition module is likely be bad.