A pendulum is both a measurer of time and of energy. Spiritually it represents the rhythm of life. It is for this reason that a weighted object can be used in divination.
Psychological / Emotional Perspective:
A pendulum in dreams may be a symbol of indecision, swinging from one course of action to another. It may also suggest the oscillation between two states of emotion.
Everyday Material Aspects:
In the dream image of an old-fashioned clock, a pendulum can signify outdated ideas. It can also suggest that a period of time must pass before a plan is allowed to come to fruition. On its own a pendulum signifies a swing between two polarities; if it comes to rest in our dream we have
resolved a dilemma.
Also consult the entry for Time.