The proud team which, after winning five consecutive Atlantic Division titles, had a bit of a role reversal with the Knicks this season was on the brink of elimination.
No chart damage has occurred recently, but the bulls are still a bit worried about the specter of a bearish double-top reversal pattern forming on the daily bar chart, if gold prices show more losses this week.
"The other unusual thing about this year is that foreign stocks tended to do a bit worse than domestic markets, and that's a kind of reversal of a trend we've seen for most of this decade, " he said.
The second factor has been a slight reversal of Mr King's complaint: the euro has recovered a bit against the dollar, and thus has strengthened even more against the pound.