There are two things wrong.
First, you should apply the physics behaviour to both objects.
Second, they're falling down because of gravity. The joint is being created but because they're both being pulled downwards at the same speed you won't see any result.
If you want an object to stay in place then you need to set it to be immovable in the behaviours properties pane on the left side of the layout view - in this case it'll be the base of your pendulum (took me a while to realise that's what you meant by "ticker" :P)