0DTE Market Map: SPY, QQQ, IWM & AMZN — September 7, 2026

The 0DTE tape

The session on September 4, 2026, presented a mixed tape across major indices and leading equities. Small-caps led relative strength, while large-cap indices and tech-heavy names experienced minor distribution relative to their opening prints.

In the Whalor 0DTE setup ledger, the bearish themes of the session faced friction. The bearish "failed breakout breakdown trap" setup on $IWM resulted in a stop-out. Similarly, the bearish "zero dte ema13 rejection" setup on $QQQ was stopped out. On $SPY, a bearish "failed breakout breakdown trap" was managed to a time stop. This execution data highlights the importance of risk management when trading intraday traps and rejections near key session boundaries.

SPY levels

During the September 4 session, $SPY opened at 772.01, traded to an intraday high of 772.87, and established an intraday low of 769.00 before closing at 770.23. This represents a decline of 0.23% from the opening price. The volume-weighted average price (VWAP) settled at 770.41. The opening 30-minute range was defined by a low of 771.81 and a high of 772.87, indicating that the session high was established during the initial half-hour of trading.

QQQ levels

$QQQ opened the session at 719.35, reached a high of 721.86, and dropped to an intraday low of 716.56. The index closed at 719.06, down 0.04% from its open. The session VWAP was 718.55. The opening 30-minute range spanned from 718.52 to 721.86, meaning the session high was also set within the first 30 minutes of the regular session.

IWM levels

$IWM showed notable relative strength, opening at 293.70, reaching a high of 296.18, and dipping to a low of 293.56. It closed near its highs at 295.96, marking an increase of 0.77% from its opening print. The session VWAP was 295.38. The opening 30-minute range was bounded by a low of 293.56 and a high of 295.22, showing that the index broke out of its initial range to print higher highs later in the day.

AMZN levels

$AMZN opened at 259.07, printed a high of 261.12, and fell to an intraday low of 255.29 before closing at 258.51, a decline of 0.22% from the open. The session VWAP was 257.61. The opening 30-minute range was established between 256.81 and 261.12, with the high of the day established during this opening phase.

Scenarios for the next session

This scenario map outlines the structural boundaries for the upcoming trading session based on the prior session's auction.

• Bullish Confirmation Scenarios: To confirm immediate bullish momentum, buyers must hold prices above the prior session's VWAP levels ($SPY 770.41, $QQQ 718.55, $IWM 295.38, $AMZN 257.61). A bullish continuation scenario would be supported by a sustained break above the prior session's highs ($SPY 772.87, $QQQ 721.86, $IWM 296.18, $AMZN 261.12). Traders monitoring these levels would look for "support trap reclaim" setups or "ema pullback continuation" patterns above these levels, confirming that supply has been absorbed.

• Bearish Confirmation Scenarios: To confirm bearish control, sellers must keep prices below the prior session's VWAP levels. A bearish breakdown scenario is validated if prices lose the prior session's lows ($SPY 769.00, $QQQ 716.56, $IWM 293.56, $AMZN 255.29). In this environment, bearish setups such as "failed breakout breakdown traps" or "ema rejection" patterns near the prior session's opening 30-minute range boundaries would suggest further distribution.

This map is for educational purposes only and does not constitute financial advice.

Verified prior-session levels

• $SPY: open 772.01, high 772.87, low 769.00, close 770.23 (-0.23% from open), VWAP 770.41, opening 30m range 771.81-772.87.
• $QQQ: open 719.35, high 721.86, low 716.56, close 719.06 (-0.04% from open), VWAP 718.55, opening 30m range 718.52-721.86.
• $IWM: open 293.70, high 296.18, low 293.56, close 295.96 (+0.77% from open), VWAP 295.38, opening 30m range 293.56-295.22.
• $AMZN: open 259.07, high 261.12, low 255.29, close 258.51 (-0.22% from open), VWAP 257.61, opening 30m range 256.81-261.12.