Oservation of red light that stopped and changed direction at a very high speed multiple times.Updated: Grilling on my deck I observed what appeared to be an aircraft in the eastern sky in a regular pattern I have seen for decades where I live. It displayed a flashing white light then changed to a non blinking red light. The object (5-10 miles out?) appeared to be hovering as planes around the O'Hare airport area were constantly moving. It seemed to drop very fast then turned to the north and sped at unimaginable speed. Almost like a laser pointer but the sky was clear and no sound. It then stopped again and changed course slightly continuing north. I walked out the north entrance door of my home and observed the same red light moving north at a high speed where it stopped directly north and dropped at a high rate of speed below my field of view. This could not have been a regular or military aircraft, helicopter or even a drone. Nothing I know of could maneuver that fast. I have never seen anything in the sky like this in my life.