I was taking my dogs outside in the backyard around 8pm. I looked up in the sky to see what appeared to be a small red light. But you could tell it was further up in the sky (around the same height as commercial airliners fly when they are getting close to the airport). It moved high in the sky, and was coming in the direction of my house (coming from the west). It moved slowly, then hovered for a few seconds, and then started to move again. But I noticed that when it hovered, it seemed to go from a red light to a bluish -green light. It sort of looked like it was spinning. Then, I noticed a commercial jet come from the east. There is an airport nearby, and we have lots of air traffic. The red light was in the direct path of the jet. And right before it looked as if the two were going to collide, the red light moved out of the way. The light the moved slowly in a NW direction and started to descend behind the tree line until I could no longer see it.