0DTE Market Map: SPY, QQQ, IWM & AMZN — September 25, 2026

The 0DTE tape

The completed session on 2026-09-24 demonstrated positive drift across the major indices and large-cap tech, led by a strong relative performance in AMZN. SPY and QQQ closed near their session highs, while IWM experienced a more volatile, two-sided session before finishing slightly positive.

In the 0DTE setup ledger, Whalor executed two trades during the 2026-09-24 session. On SPY, a bullish zero_dte_ema48_reclaim setup was triggered via a 5m reclaim and 1m reaction high break, which ultimately resolved in a time stop. On IWM, a bearish Opening Range Retest Confirmation setup was executed, which also concluded with a time stop. These followed a series of bearish SMA and EMA rejections earlier in the week on SPY and IWM, as well as bullish EMA bounces on QQQ.

SPY levels

SPY closed the session at 767.25, marking a gain of +0.42% from its opening print of 764.07. The session volume-weighted average price (VWAP) anchored at 766.50.

• Session High: 768.95
• Session Low: 763.25
• Opening 30-Minute Range: 763.62 – 765.49

QQQ levels

QQQ showed stronger relative momentum, closing at 741.06, which represents an increase of +0.78% from its open of 735.29. The session VWAP settled at 738.88.

• Session High: 742.66
• Session Low: 734.62
• Opening 30-Minute Range: 734.62 – 737.77

IWM levels

IWM lagged the larger-cap indices, opening at 281.33 and closing at 281.65, a modest gain of +0.11% from the open. The session VWAP was established at 280.87, reflecting the tight, choppy nature of the rotation.

• Session High: 282.24
• Session Low: 279.05
• Opening 30-Minute Range: 280.50 – 281.73

AMZN levels

AMZN was the session's clear outperformer, opening at 246.02 and closing at 249.32, a gain of +1.34% from its opening price. The session VWAP stood at 247.84.

• Session High: 250.43
• Session Low: 245.60
• Opening 30-Minute Range: 245.65 – 247.52

Scenarios for the next session

Bullish Confirmation Scenarios

To confirm immediate bullish continuation in the upcoming session, buyers must establish clean acceptance above the prior session's high-value areas.

• For SPY and QQQ, this requires an opening drive that breaks and holds above 768.95 and 742.66, respectively.
• For AMZN, a sustained break above 250.43 confirms extension.
• If prices open within the prior range, bulls will look for a defensive hold of the prior session VWAPs (766.50 for SPY, 738.88 for QQQ, and 247.84 for AMZN). A successful test and bounce from these levels, or a reclaim of the opening 30-minute range highs, would align with historical zero_dte_ema13_bounce or zero_dte_ema48_reclaim structures to target the prior day's highs.

Bearish Confirmation Scenarios

To confirm bearish control, sellers must push prices below established intraday support levels and prevent recovery.

• For IWM, which showed weakness relative to the other indices, a break below the opening 30-minute range low of 280.50 or the prior session low of 279.05 would confirm downward momentum.
• For SPY and QQQ, bearish confirmation requires a failure to hold the prior session VWAPs, followed by a break below the opening 30-minute range lows (763.62 for SPY and 734.62 for QQQ).
• If prices attempt to rally but reject the prior session highs, look for confirmation via a lower high on the 5-minute chart or a fresh reaction low break on the 1-minute chart. This behavior would mirror the recent 15m_200ma_bounce_rejection or zero_dte_ema50_rejection setups, targeting a move toward the prior session lows of 763.25 (SPY), 734.62 (QQQ), and 245.60 (AMZN).

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a solicitation to trade daily 0DTE options contracts.

Verified prior-session levels

• $SPY: open 764.07, high 768.95, low 763.25, close 767.25 (+0.42% from open), VWAP 766.50, opening 30m range 763.62-765.49.
• $QQQ: open 735.29, high 742.66, low 734.62, close 741.06 (+0.78% from open), VWAP 738.88, opening 30m range 734.62-737.77.
• $IWM: open 281.33, high 282.24, low 279.05, close 281.65 (+0.11% from open), VWAP 280.87, opening 30m range 280.50-281.73.
• $AMZN: open 246.02, high 250.43, low 245.60, close 249.32 (+1.34% from open), VWAP 247.84, opening 30m range 245.65-247.52.