[1] : 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
see also:
ups and downs 

[2] : Moby Thesaurus II by Grady Ward, 1.0

27 moby thesaurus words for "ups and downs":
   lissajous figure, alternation, back-and-forth,
   chain of circumstances, chain reaction, chapter of accidents,
   coming and going, concatenation of events, ebb and flow,
   feast and famine, flux and reflux, ins and outs, reciprocation,
   rhythmic play, seesaw, seesawing, sine wave, teeter, teeter-totter,
   teeter-tottering, teetering, to-and-fro, tottering, vicious circle,
   vicissitudes, vicissitudes of fortune, wigwag

Ups And Downs >> U Words
Ups And Downs, definition of term: Ups And Downs
ups+and+downs_pag1.html

Ups >> U Words
Ups, definition of term: Ups
ups_pag1.html

Downs >> D Words
Downs, definition of term: Downs
downs_pag1.html

Downs Syndrome >> D Words
Downs Syndrome, definition of term: Downs Syndrome
downs+syndrome_pag1.html