Whalor Setup Recap: September 1, 2026

Session price action

On September 1, 2026, the major indices exhibited mixed movement relative to their opening prints, though all three benchmark ETFs ultimately closed below their session volume-weighted average prices (VWAP).

$SPY opened at 762.01, fluctuated within a session range of 759.48 to 764.67, and closed at 761.47. This represented a 0.07% decline from its opening price, with the final print landing below the session VWAP of 762.01.

$QQQ opened at 707.39, experienced a wider intraday range of 704.66 to 712.30, and closed at 707.62. While this was a minor gain of 0.03% from the open, the index finished below its session VWAP of 708.09.

$IWM opened at 291.98, traded between 289.97 and 292.94, and closed at 290.42. This marked a 0.53% decline from its open, with the close also falling below its session VWAP of 291.22.

Why the setups fired

A single bearish setup fired during the session. $QQQ triggered a bearish ema_pullback_continuation setup near the 706.17 level. This trade was initiated based on three technical criteria: a supportive 15-minute trend, a 5-minute 21EMA pullback rejection, and a 1-minute pullback rejection. The setup sought to capitalize on downward momentum as the index traded below its opening price of 707.39 and headed toward its intraday low of 704.66.

What the outcomes showed

The bearish continuation did not find sustained downward momentum. The single resolved setup of the day—the $QQQ $704 PUT expiring 2026-09-01—was stopped out, resulting in a loss of 65%. The contract registered a tracked peak of -14%.

Because this was the sole resolved setup of the session, the daily win rate stood at 0.0% (0 profitable setups, 1 loss). The modeled one-contract P&L for the session was -$81. This also establishes the month-to-date record through this session at 1 resolved setup, 0 profitable setups, 1 loss, and a modeled P&L of -$81. No setups reached the +100% threshold.

What traders can learn

This session demonstrates the risks of trading continuation patterns on days characterized by wide intraday ranges. Although QQQ closed relatively flat compared to its open and finished below its session VWAP of 708.09, the index's journey to a high of 712.30 disrupted the short-term bearish EMA structures.

The tracked peak of -14% shows that the contract faced pressure shortly after entry near 706.17. This highlights how intraday whipsaws can invalidate localized trend-continuation models even if the asset eventually moves back down later in the session. Adhering to the defined stop-out structure limited the contract loss to 65%, protecting trading capital from further drawdown during the move against the position.

We invite you to review every setup and its detailed stock-candle outcome replay in the Whalor app.

Month-to-date record

Through September 1, 2026, Whalor has recorded 0 profitable outcomes and 1 losses across 1 resolved setups (0.0% profitable). The one-contract modeled result is -81 dollars under the published methodology below.

Every resolved setup

Contract	Setup	Outcome	Return	Tracked peak
$QQQ $704 PUT · 2026-09-01	ema_pullback_continuation: 15m_trend_supportive / 5m_21ema_pullback_reject / 1m_pullback_rejection	STOPPED OUT	-65%	-14%

Methodology: Modeled P&L assumes one contract per setup. A setup that reached +50% is counted at +50%; otherwise a setup that reached +30% is counted at +30%; all other resolved outcomes use the recorded exit return. Tracked peak is hindsight context, not an assumed exit. Educational only, not financial advice.