If the story is good enough, then it will probably sell. That being said, I can't remember having red any stories stretching over more than one book that didn't have some sort of closure at the end of each one. As you said yourself, those stories usually have and overarching story for the series and smaller plot lines ending in each book.
If you ever were so unlucky as to see the Matrix sequels, then you'll that the worst thing about them (and that's saying a lot) was the to be continued ending at the end of the first sequel. If people pay for a movie/book, then they expect self contained story with some sort of closure.
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