Source : Webster's Revised Unabridged Dictionary (1913)

Up \Up\, n.
   The state of being up or above; a state of elevation,
   prosperity, or the like; -- rarely occurring except in the
   phrase ups and downs. [Colloq.]

   {Ups and downs}, alternate states of elevation and
      depression, or of prosperity and the contrary. [Colloq.]

            They had their ups and downs of fortune.
                                                  --Thackeray.