Carmelo Anthony traded to the Knicks

So unless you've been hiding under a rock for the past few months you probably heard the news that Carmelo might be traded to the Knicks, Nets, or even the Lakers at the time. Well finally the Denver Nuggets and New York Knicks pulled the trigger on the trade which sent Carmelo along with Chauncey Billups, Shelden Williams, Anthony Carter and Renaldo Balkman to the Knicks in exchange for Raymond Felton, Danilo Gallinari, Wilson Chandler, Timofey Mozgov, NY's 2014 first round pick, the GS Warriors' 2012 second round pick, the Warriors' 2013 second round pick and $3 million cash to top it all off.

Do you think this completely shifts the power in the league to the East? Does this make New York the new favorite in the East? Leave a comment below and let me know what you think.