Can you sue for mistaken identity?

Police Officers lurked around my house on a tuesday night, due to criminal activity in my area. I came out my house to find out why...they ran my license and told me they were just making sure, following proper protocol. The next day, I come home from work and they now have a search warrant and now have arrested me, linking me to the criminal activities in the area, along with similar cases that were going on for a few weeks. They advised me this has been an ongoing investigation, and they have set up surveillance around my house. Now, mind you they had a description of the suspect, in which matches mine a little, but they came to my house the night before, but no arrest. So now you come back the next day and i'm accused of the crimes. You found no evidence, linking me, just my description, which favors many...and you have caused me to miss maybe about 5 days of work, you have my name in the papers as if you really got your guy (humiliation) and your holding me on 1/2 million dollar bail. The reason I ask if able to sue, because obviously as the night progressed you have created a case against me with no proof, and you have also said dogs led you to my location. One important factor here, that i didn't mention...the time of the crimes, i was working! My supervisor is able to testify that and provide proof. Shouldn't you have a little more proof than a description before you make your arrest?