Bullish sentiment among advisors fell slightly in the latest week from the highest level since the spring as they remain generally upbeat on the market despite Europe’s debt challenges, according to a report released Wednesday.

“Indexes and indicators remain bullish and the first session of 2012 included strong early gains to again test fall and December,” Investors Intelligence said.

Bulls fell to 49.5% from 50.5% the previous week.

“Readings above 55% are dangerous and bull market tops often include them as high as 60%. Many of the recent bulls noted the historic record of year-end gains along the generally positive markets preceding Presidential elections,” Investors Intelligence said.

“After the April peak the bulls contracted to 34.4%, the week of the lows on Oct. 4. From there, the rising number of bulls is a good sign as it shows money moving into stocks. Any significantly higher bullish sentiment would now be a worry,” the newsletter service added.

Bears rose to 30.5% in the latest week from 29.5%. The spread between bulls and bears declined to 19% in favor of the bulls.

Here are some of the other top ETF stories making the rounds this morning: