A bright red light appeared very quickly, stopped abruptly and then sped away upward into the sky.We were watching the fireworks in North Olmstead, OH. A bright light was going across the sky and we assumed it was a helicopter or an airplane. All of a sudden it stopped, and began hovering. The light was very bright and red. For about a minute it hovered, then it quickly exited and disappeared out of sight immediately. It almost looked as if it were going upward very quickly. Initially, it appeared to be at least 30,000 feet. One of us saw a flash of light off to the side in the top of the sky.