Stocks ended mixed in thin, choppy session Thursday amid Greece's ongoing debt woes and ahead of the quadruple witching Friday.
The Dow Jones Industrial Average rebounded 64.25 points, or 0.54 percent, to close at 11,961.52, below the psychologically-important 12,000 mark for the second session.
AmEx and Hewlett-Packard led the blue-chip gainers, while Alcoa slid.
The S&P 500 edged up 2.22 points, or 0.18 percent, to finish at 1,267.64.
The tech-heavy Nasdaq fell 7.76 points, or 0.29 percent, to end at 2623.70.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, jumped to trade above 22.
The major indices are struggling to finish the week higher, following six-consecutive losing weeks.
Materials and techs led the S&P sector laggards, while consumer staples gained.
"We're definitely at a tipping point and it feels like this market's ready for a bounce," Brian Stutland of Stutland Equities told CNBC. "We've been so oversold, I feel we need a pop back up to S&P 1,300 before it can move any lower."
"Traders [were] unwinding their positions ahead of quadruple witching," said Alan Valdes, director of floor operations at DME Securities. "Volume [was] very light today as well."
Quadruple witching is when contracts for stock index futures, stock index options, stock equity options and single stock futures expire. This happens once every quarter, on the third Friday of March, June, September and December.
Valdes added that if the S&P doesn't hold the 1,265 level, the markets could see a further selloff.
"And I think we're going to selloff," he predicted.
International lenders struggled to save Greece from default. Greek Prime Minister George Papandreou said he would reshuffle the government and would seek a confidence vote in parliament, responding to violent protests in Athens. Meanwhile, there was some chatter that China may provide some sort of European bailout. The Chinese Premier is scheduled to visit Europe later this month. (Read More: 5 Things Investors Need to Know On Latest Greece Crisis)
The euro fell to a three-week low against the dollaramid the political turmoil in Greece.
Among techs, Pandora plunged to end below its $16 offering priceon its second day of trading. BTIG initiated coverage on the firm with a "sell" rating and a $5.5 price target. Almost three-quarters of the 28 tech IPOs this year are down since their first day close.
Microsoft climbed after the Dow component unveiled a test version of the softwarethat will allow developers to produce games for the company's Kinect gaming device.
Hewlett-Packard sued rival Oracle to force the world's No. 3 software maker to reverse its decision to discontinue the development on Intel's
Meanwhile, Oracle sued Google for "billions of dollars" in a patent lawsuit, according to a court filing. Both stocks were lower.