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This positive price action has even drawn these trendlines into a bullish cross a technical formation that often indicates further upside potential.
Just as important is the trendline.
But the trendline for President Obama has been poor.
This can be seen by comparing the sensitive Loess trendline to a simple linear trendline, as in the following chart.
One issue is that the trendline did not improve for him.
And yet this simple version a trendline analysis does not tell the whole story either.
By midday trading on Wednesday, that trendline stretched to about $31.60.
Some of our friendly competitors, like Talking Points Memo, use a technique called Loess regression to calculate a polling trendline.
But of the daily tracking polls, the Gallup survey receives the largest weight in the model's trendline calculation.
The trendline adjustment that the model calculates compares changes in the results produced by the same polling firms over time.
Trendline = moving average.
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