0DTE Market Map: SPY, QQQ, IWM & AMZN — September 21, 2026

The 0DTE tape

The session on 2026-09-18 showed mixed marginal returns across major assets, with QQQ leading at +0.35% from its open, while IWM lagged, closing down -0.29% from its open. SPY and AMZN posted modest gains of +0.04% and +0.23% from their respective opens.

This mixed performance follows a highly defensive period in the Whalor setup ledger. Across the September 14, 15, and 17 sessions, directional setups struggled to find clean run-time. Bullish and bearish attempts on SPY, QQQ, IWM, and AMZN resulted in either "stopped_out" or "time_stop" outcomes. This historical ledger highlights a market environment prone to mean reversion and failed extensions rather than sustained intraday trends.

SPY levels

SPY closed the 2026-09-18 session at 761.64, just above its opening price of 761.31. The intraday boundaries are defined by the session high of 762.00 and the low of 757.97.

The volume-weighted average price (VWAP) finished at 760.07. The opening 30-minute range was established between 759.56 and 761.76.

• Bullish confirmation requires the index to trade and hold above the 30-minute range high of 761.76, clearing the session high of 762.00.
• Bearish confirmation requires a sustained break below the 30-minute range low of 759.56, targeting a test of the session low at 757.97.

QQQ levels

QQQ demonstrated relative strength, opening at 718.83 and closing near its highs at 721.34. The intraday high reached 721.73, while the session low printed at 715.08.

The session VWAP settled at 718.12. The opening 30-minute range was bound by 717.64 on the downside and 719.54 on the upside.

• Bullish confirmation would be established by price holding above the opening 30-minute high of 719.54, opening the path to test or exceed the session high of 721.73.
• Bearish confirmation would begin with a drop back below the session VWAP of 718.12, followed by a sustained break of the 30-minute low at 717.64 toward the session low of 715.08.

IWM levels

IWM exhibited relative weakness, closing at 284.09 after opening at 284.92. The session high of 285.27 was established during the initial 30-minute range (282.92–285.27), indicating an immediate rejection of early buying. The session low printed at 282.54.

The session VWAP concluded at 283.37.

• Bullish confirmation requires a clean reclaim of the VWAP at 283.37, followed by a breakout above the shared 30-minute and session high of 285.27.
• Bearish confirmation is marked by price staying below the VWAP of 283.37 and breaking the 30-minute range low of 282.92, exposing the session low of 282.54.

AMZN levels

AMZN opened at 252.92 and closed at 253.51, trading within a session high of 255.43 and a session low of 251.88.

The VWAP for the session was 253.33, while the opening 30-minute range spanned from 252.01 to 254.49.

• Bullish confirmation relies on the price sustaining above the VWAP of 253.33 and breaking through the 30-minute range high of 254.49 to challenge the session high of 255.43.
• Bearish confirmation requires a breakdown below the 30-minute range low of 252.01, bringing the session low of 251.88 into play.

Scenarios for the next session

Scenario A: Bullish Extension

If buyers establish control early, we look for prices to open or quickly drive above the prior session VWAPs (SPY 760.07, QQQ 718.12, IWM 283.37, AMZN 253.33). Bullish confirmation is achieved if the assets break and hold above their respective 30-minute range highs from 2026-09-18, signaling a potential test of the session highs.

Scenario B: Bearish Breakdown

If sellers dominate the open, prices will likely trade below the prior session VWAPs. Bearish confirmation is achieved if the assets break below their prior 30-minute range lows (SPY 759.56, QQQ 717.64, IWM 282.92, AMZN 252.01), opening up direct tests of the 2026-09-18 session lows.

Scenario C: Range-Bound Chop

Given the high frequency of "time_stop" and "stopped_out" results in the recent setup ledger, a range-bound scenario remains highly plausible. In this scenario, prices fluctuate back and forth through the 2026-09-18 VWAP levels, failing to sustain breaks beyond either the prior 30-minute ranges or the session extremes.

This market map is for educational purposes only and does not constitute financial advice or trade recommendations.

Verified prior-session levels

• $SPY: open 761.31, high 762.00, low 757.97, close 761.64 (+0.04% from open), VWAP 760.07, opening 30m range 759.56-761.76.
• $QQQ: open 718.83, high 721.73, low 715.08, close 721.34 (+0.35% from open), VWAP 718.12, opening 30m range 717.64-719.54.
• $IWM: open 284.92, high 285.27, low 282.54, close 284.09 (-0.29% from open), VWAP 283.37, opening 30m range 282.92-285.27.
• $AMZN: open 252.92, high 255.43, low 251.88, close 253.51 (+0.23% from open), VWAP 253.33, opening 30m range 252.01-254.49.