I was watching television and heard a prop plane flying overhead. It sounded strange which is why I grabbed my binoculars to take a look.I noticed the plane was flying erratically in a circle, the only way I can describe it was a side to side motion. I was able to see the pilot through the large glass covered cockpit, such as that of a crop duster air plane.After a few circular fly-bys by the plane I noticed the Pilot was looking upward toward the sky above him, I then scanned the sky to where I assumed the Pilot was looking and seen a Very Large Chrome object hovering directly above my stand point. I could not see the object without my binoculars, but with them it appeared to be Very Large! Distance was unknown but with my 10X42 powered binoculars it was highly visible and seemed huge.It hovered for approximately two minutes, the went SW at a high rate of speed and the air plane followed until out of visual sight because of trees and homes.I was in such disbelief at what I had just witnessed that I was shaken and explain it to my parents with tears in my eyes.This is an experience I will never forget!