Yes, drawing a spark at the cable is an indication of a battery drain.
Like Bruce said, start with the alternator, disconnect all the wires, see if the spark stops.
Another test is to disconnect one battery cable, connect an incandescent test light in series between the battery post and the cable. If the light glows bright, there is a drain. A very dim glow might be seen if there is any electronic equipment in use. This is normal and would take months to drain the battery.
Then you can start pulling fuses, disconnecting wires until the light goes out. Common causes are, as said, the alternator, an accessory that's been left on, corroded wire connections, especially where the connection gets wet or are near the battery, an improperly connected accessory, anywhere the wiring has been damaged, burned, pinched, mouse chewed, or modified.
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