Signs that a trader's market may soon be upon us surfaced once again last week. The market pulled back temporarily following comments from Ben Bernanke, which showed no indications the Federal Reserve is prepared to take additional measures to prop up a sluggish economy.

Despite a brilliant run in the broader equity markets since the start of the year, not everyone is convinced of the sustainability. "We are at the tail end of this rally," Tom Kee Jr., President and CEO of Stock Traders Daily, wrote in a recent trading alert to paid subscribers. "Yes, it can go a little higher, but the market is much more likely to turn down sooner rather than later."

ETFs will maintain their popularity as short term sector plays continue to be the norm. Here are four funds for traders to monitor for potential trades this week.

Across the pond

This week, Greece's private debt creditors are set to render a decision as to whether or not they will approve a $140 billion sovereign debt restructuring deal. Uncertainty surrounding the situation has been unsettling to the entire European Union.

European stocks have still been able to grind out gains as the Vanguard MSCI Europe ETF (VGK) has gained 11.2% since the beginning of the year. A resolution to the crisis in Greece could take an added weight off the shoulders of European equities.

The PowerShares DB U.S. Dollar Index Bullish Fund (UUP) was trending higher in the second-half of last week as the dollar rose to a nine month high against the yen. Bernanke's comments were also a positive development for traders betting on the dollar. Shares of UUP rose 1.4% last week.

Branching out

Commodity traders will be monitoring the progress of the Guggenheim Timber ETF (CUT) this week. The fund rose 4.4% last month as demand for lumber from China picked up and hopes of a housing recovery in the U.S. continued to linger. Lumber was one of the best performing commodities last month as it approached a ten month high.

One other ETF for traders to keep an eye on this week is the United States Oil Fund (USO). The Energy Department will release its inventory report on Wednesday morning. Last week, the department noted that oil inventories rose by 4.16 million barrels. Shares of USO are up 7.0% year-to-date.