Often times during market corrections, like the one we recently experienced, investors sell stocks indiscriminately. This panic selling can create good buying opportunities for longer-term investors.

Consider the primary catalyst behind the recent market selloff: China. Economic growth there is slowing (even according to their own dubious data), their stock market bubble has burst, and the country has devalued its currency. This sent shock waves throughout the global financial markets.

This could certainly be bad news for a lot of U.S. companies. Some firms have significant operations in China or rely on the emerging market to drive high commodity prices.

However, there are many companies with virtually no exposure to China, even in today's global marketplace. And most recent economic data here in the United States continues to point to decent growth. Additionally, domestic firms with primarily U.S. operations aren't exposed to foreign currency issues.

Nonetheless, many of their stocks were punished right along with the rest of the market. This pullback could prove to be a great buying opportunity for these stocks.

5 Domestic Small Cap Value Stocks

I ran a screen in Research Wizard that looked for U.S.-focused small cap stocks with positive earnings momentum trading at reasonable prices.

Here are 5 of the top names from the list:

Express (EXPR - Snapshot Report)

Market Cap: $1,605 million
Price/Forward EPS: 13
Enterprise Value/EBIT: 8
Zacks Rank: 1 (Strong Buy)

Express is an apparel and accessories retailer that targets 20 to 30 year olds. It operates more than 600 stores, the vast majority of which are in the United States. The company delivered a solid 7% increase in same-store sales in the second quarter, and analysts have been revising their earnings estimates significantly higher for the stock. In fact, its earnings momentum is strong enough to place it in the top 5% of all companies that Zacks ranks, giving it a Zacks Rank of 1 (Strong Buy).

Access National Corp (ANCX - Snapshot Report)

Market Cap: $211 million
Price/Forward EPS: 15
Price/Tangible Book Value: 2
Zacks Rank: 2

Access National is the parent company for Access National Bank, which has branches in the greater Washington DC Metropolitan area. The company recently delivered its 60th consecutive quarterly profit, and analysts have been consistently raising their earnings estimates for the bank. It is a Zacks Rank #2 (Buy).

NeuStar (NSR - Snapshot Report)

Market Cap: $1,529 million
Price/Forward EPS: 7
EV/EBIT: 6
Zacks Rank: 2

NeuStar provides clearinghouse services to the communications industry. Its services comprise telephone number administration, pooling and portability; Internet domain name services, such as Ultra services, .biz, .us, .cn and .tw domains; and US common short codes. Over 93% of total revenue came from the United States in the first half of 2015. Earnings estimates jumped higher for both 2015 and 2016 following a solid earnings beat on July 30. It is a Zacks Rank #2 (Buy).

Wabash National (WNC - Snapshot Report)

Market Cap: $787 million
Price/Forward EPS: 9
EV/EBIT: 7
Zacks Rank: 2

Wabash National manufactures truck trailers and related transportation equipment. It is headquartered in Lafayette, Indiana. International sales, primarily to Canadian customers, account for less than 10% of net sales. Consensus earnings estimates jumped higher for the company following a solid "beat and raise" back on July 28.

Amerisafe (AMSF - Analyst Report)

Market Cap: $909 million
Price/Forward EPS: 13
Price/Tangible Book Value: 1.9
Zacks Rank: 2

Amerisafe provides workers' compensation insurance to small to mid-sized businesses in hazardous industries like construction, trucking and agriculture. The company actively markets insurance in 35 states and the District of Columbia. The insurer has delivered five consecutive positive earnings surprises and has seen consensus estimates steadily rise over that stretch. It is a Zacks Rank #2 (Buy).

The Bottom Line

The recent market correction has presented some good buying opportunities for long-term investors. These five small cap stocks each have limited overseas exposure, positive earnings momentum, and are trading at attractive prices.