0DTE Market Map: SPY, QQQ, IWM & AMZN — September 29, 2026

The 0DTE tape

The session on September 28, 2026, was characterized by broad intraday weakness across major indices and leading equities, with all tracked instruments closing below their respective opening prints. SPY finished down 0.36% from its open, QQQ declined 0.53% from its open, IWM slipped 0.11% from its open, and AMZN fell 0.15% from its open.

In the Whalor setup ledger, the September 28 session saw two distinct plays executed on SPY. First, a bullish "opening_drive_reversal" setup—consisting of an opening drive washout reversing, an opening drive down reclaim, and a 1m opening drive reversal reclaim—was stopped out. Second, a bearish "15m_200ma_bounce_rejection" setup—incorporating a 15m SMA200 rejection, a 1m SMA200 rejection, and a 1m fresh MA reaction low break—concluded in a time stop. These setups highlight the importance of defining clear execution parameters around key intraday levels rather than chasing momentum.

SPY levels

For SPY, the key structural reference points from the September 28 session are:

• Open: 768.35
• High: 769.54
• Low: 763.72
• Close: 765.56
• VWAP: 766.39
• Opening 30-Minute Range: 766.97 to 768.61

QQQ levels

For QQQ, the key structural reference points from the September 28 session are:

• Open: 740.46
• High: 741.42
• Low: 731.63
• Close: 736.53
• VWAP: 736.58
• Opening 30-Minute Range: 737.22 to 741.42

IWM levels

For IWM, the key structural reference points from the September 28 session are:

• Open: 280.33
• High: 281.93
• Low: 278.80
• Close: 280.03
• VWAP: 280.06
• Opening 30-Minute Range: 279.41 to 280.39

AMZN levels

For AMZN, the key structural reference points from the September 28 session are:

• Open: 246.62
• High: 247.77
• Low: 244.72
• Close: 246.26
• VWAP: 246.40
• Opening 30-Minute Range: 244.72 to 246.87

Scenarios for the next session

The next session's 0DTE opportunities will depend on how price interacts with the prior session's structural levels.

Bullish Scenarios

A bullish thesis for any of these assets requires confirmation of acceptance above key intraday resistance levels.

• For SPY, bulls would look for a breakout and clean reclaim of the prior session VWAP of 766.39, followed by acceptance back inside the opening 30-minute range (766.97–768.61). A sustained push above the session high of 769.54 would confirm strength.
• For QQQ, a bullish scenario involves reclaiming the VWAP of 736.58 and the bottom of the opening 30-minute range at 737.22, targeting a test of the session high at 741.42.
• For IWM and AMZN, bulls want to see price establish support above their respective VWAPs (280.06 and 246.40) and break above their session highs (281.93 and 247.77). Potential execution frameworks include the "zero_dte_ema48_reclaim" or an "opening_range_breakout_retest" on lower-timeframe confirmations.

Bearish Scenarios

A bearish continuation relies on the market’s inability to reclaim prior value areas.

• For SPY, if price remains pinned below the close of 765.56 and VWAP of 766.39, bears will look for a breakdown of the session low at 763.72.
• For QQQ, failure to reclaim the VWAP of 736.58 keeps the bias downward, with bears looking for a clean break below the low of 731.63.
• For IWM and AMZN, holding below the VWAPs (280.06 and 246.40) and breaking below the session lows (278.80 and 244.72) would validate bearish momentum. Execution setups for these moves could include the "15m_200ma_bounce_rejection" or an "opening_range_retest_confirmation" following a failed push.

Educational purposes only. Past performance of setups is not indicative of future results.

Verified prior-session levels

• $SPY: open 768.35, high 769.54, low 763.72, close 765.56 (-0.36% from open), VWAP 766.39, opening 30m range 766.97-768.61.
• $QQQ: open 740.46, high 741.42, low 731.63, close 736.53 (-0.53% from open), VWAP 736.58, opening 30m range 737.22-741.42.
• $IWM: open 280.33, high 281.93, low 278.80, close 280.03 (-0.11% from open), VWAP 280.06, opening 30m range 279.41-280.39.
• $AMZN: open 246.62, high 247.77, low 244.72, close 246.26 (-0.15% from open), VWAP 246.40, opening 30m range 244.72-246.87.