Hovering Circular Object West of Phoenix on 7/27/02 at 8:00 p.m.From the squawpeak area we were looking towards the West, a little south. It was a very bright circular light that basically hovered in the same area, but moved in zig zag and circular motions and would generate a pale pink purple or a pale green haze around it. Planes were going by and they were very much below the object. It went higher at one point and almost looked like a shooting star going backwards and then it returned to the original hovering place. It then moved up again and disappeared. The sky was cloudy and there were no stars visible.