i was inside my apartment watching tv until about 9:30pm.nearby and visible from my apartment grounds, The City of Alcoa was conducting their annual "pre-Independence Day celebration" called FreedomFest, Saturday, June 25 9:40-10pm. i stepped outside to watch some of the fireworks for a few minutes at the beginning of the show, then went back inside my apartment to continue watching tv. just before 10pm, near the end of the fireworks, i went back outside to watch the "grand finale".... after all the fireworks were shot off (10pm), i started walking back to my apartment and that's when i noticed a bright blue light shining through the trees and moving in a southern direction. first sighting was 194-198 degrees from my position at an elevation angle of 25 degrees. i stood and watched for a while to see if it would clear the trees and come into open view....it did.initially i thought it might be a commercial or military aircraft because there is a civilian and military airport nearby, however i found it very unusual to see the color Blue light in the sky. i was amazed, curious and slightly confused, this did not seem natural or normal to me and not what i have observed as aircraft. so i watched hoping to find an explanation or identity of this unusual sight. once the object passed by and cleared the trees and came into open sky view, i observed what looked like a ball shaped (circular) object, mostly Blue. the color was similar to a police blue light but it had a slightly different quality or shade of color that i would describe as "neon-like". in the center of the blue ball / circle of light was a red color ball / circle. the ratio of red ball / circle to blue ball / circle was about 1:8....also noteworthy, unlike regular aircraft, these colored lights did not blink, fade or pulse..... an even greater detailed description of the object: imagine a 5 point star, then overlay another 5 point star. now offset the stars to form a 10 point star. that is similar to what formed the blue ball / circle. there was a red circle in the center. there were no definite lines of separation and no sharp points to the star. it seems like the blue color emanated from the center and became slightly fuzzy near the area of the points, but blending and filling in all together to make the form of a ball or circle of colored light. no sounds were heard. the object moved slower than a typical helicopter and i would estimate the distance as 2 - 3 miles away maybe further. it moved very smooth and steady, no jerky motions.shortly after it cleared the trees and came into plain view in the open sky, it seemed to change direction slightly with no change of elevation,155 - 160 degrees. i continued to watch it until it fell below the level of the roof top of my apartment.***measurements taken in daylight on 27 june, using a magnetic compass, carpenters angle locator and my car's gps location.