0DTE Market Map: SPY, QQQ, IWM & AMZN — September 8, 2026

The 0DTE tape

The September 4 session presented challenging conditions for intraday execution, particularly for bearish setups. In $IWM, a bearish failed breakout breakdown trap (resistance trap rejection on the 5-minute and 1-minute charts) ended in a stop-out as the index closed near its session highs. A bearish $QQQ EMA13 rejection setup on the 5-minute and 1-minute charts was also stopped out during the session. Meanwhile, $SPY's bearish failed breakout breakdown trap resulted in a time stop, mirroring the mixed trend-continuation environment. This price action follows a highly active week featuring failed breakout-breakdown traps on September 3 and EMA pullback continuations on September 2.

SPY levels

During the September 4 session, $SPY opened at 772.01, hit a high of 772.87, and fell to a low of 769.00 before closing at 770.23, representing a -0.23% decline from its open. The volume-weighted average price (VWAP) settled at 770.41. The initial opening 30-minute range was established between 771.81 and 772.87.

QQQ levels

$QQQ opened at 719.35 and established a high of 721.86 and a low of 716.56. It closed the session at 719.06, down -0.04% from its open. The session VWAP was 718.55. The opening 30-minute range was defined between 718.52 and 721.86, with the high of the session matching the high of this initial range.

IWM levels

Outperforming the other major assets on a relative basis, $IWM opened at 293.70, carved out a low of 293.56, and rallied to a high of 296.18 before closing at 295.96 (+0.77% from the open). The session VWAP tracked at 295.38. Its opening 30-minute range spanned 293.56 to 295.22, showing strong expansion above this initial boundary later in the day.

AMZN levels

$AMZN opened at 259.07, reached a high of 261.12, and dipped to a low of 255.29. It closed at 258.51, a -0.22% change from the open. The session VWAP was 257.61, while the opening 30-minute range was bounded by 256.81 and 261.12.

Scenarios for the next session

Bullish Scenario For a bullish confirmation, the primary trigger across these assets is a clean break and hold above the prior session high and VWAP. For $SPY, buyers would need to reclaim the VWAP of 770.41 and push through the opening 30-minute high of 772.87. For $QQQ, a sustained move above 721.86 would signal strength, potentially opening the door for an EMA pullback continuation or support reclaim play. On $IWM, holding above the close of 295.96 and the high of 296.18 would confirm continued relative strength. For $AMZN, reclaiming the VWAP of 257.61 and breaking above 261.12 would be required to shift the intraday structure back to bullish.

Bearish Scenario For a bearish confirmation, sellers must drive prices below key defensive levels. For $SPY, a breakdown below the session low of 769.00, coupled with rejection at the VWAP of 770.41, would confirm bearish control. In $QQQ, a break below the session low of 716.56, or a failed attempt to reclaim the opening 30-minute low of 718.52, could trigger further downside. For $IWM, a breakdown below its VWAP of 295.38 and a return into the opening 30-minute range (below 295.22) would signal a potential failed breakout trap. Finally, on $AMZN, a sustained drop below the session low of 255.29 would confirm a bearish trend continuation.

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.