The Collaborative International Dictionary of English v.0.48:

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.]
   [1913 Webster]

   Ups and downs, alternate states of elevation and
      depression, or of prosperity and the contrary. [Colloq.]
      [1913 Webster]

            They had their ups and downs of fortune.
                                                  --Thackeray.
      [1913 Webster]