It feels like some investors are getting a little spooked out there this week.

The Nasdaq is in the red once again, and the tech-heavy index is headed for a down week of roughly 3%.

Meanwhile, semiconductor stocks are taking a hit. The VanEck Semiconductor ETF is down almost 10% on the week.

So yes, we're getting a bit of a reset in tech, and it's rattling some investors. But you don't have to be scared.

In fact, I think this pullback is creating a lot of great opportunities.

The bulls may be ready to rotate out of those formerly red-hot semiconductor names and into other, less-loved areas of the market.

Earlier today, I ran a scan and found more than 150 large-cap stocks hitting new 50-day highs today.

That's right, there are plenty of stocks breaking out in this market. It’s just that many of them aren't in tech.

Today, I'm going to show you three of my favorite stocks outside the technology sector that are hitting new 50-day highs and could be worth a closer look.

We'll also take a look at what's happening in semiconductors, where this pullback could be headed, and what I'll be watching from here.

Just click on the video below to check it out.

Remember, you don't have to force trades in the hottest names just because everyone else is watching them.

Some of the best setups are showing up in places most investors aren't even paying attention to yet — and that's exactly where I like to look.

Thanks for tuning in. I'll catch you next time.