Spectrally modulated Stokes polarimeters use a pair of high-order crystal retarders to generate a spectrally dependent modulation of the polarization of light. In these systems, the detected intensity versus wavenumber spectrum is usually referred to as a channeled spectrum, and the Fourier inversion of this spectrum allows the determination of Stokes parameters of light without needing any other mechanical or active device for polarization control. This work proposes a spectrally modulated polarimeter beyond the concept of a channeled wavenumber spectrum, so effectively detaching the spectral modulation from the Fourier analysis technique. The wavelength domain analysis we use is best suited for dispersive spectrometers offering intensity versus wavelength measurements. The technique is illustrated with the measurement of very small optical rotations produced by sucrose solutions. The proposed technique is easily extendable to spectrally modulated Mueller polarimeters.