An uptick is when a asset's price is higher than the previous transaction price. So, if a stock traded at $100, and then the next trade posts at $100.10, then the stock has had an uptick. An uptick was required in order to initiate a short position for over 70 years, but effective July 6, 2007, the uptick rule was removed. The uptick rule was put in place to prevent traders from shorting falling markets.