Egg shaped bright and blinking lights descending slowly amoung cloud, then disappearingegg shaped object with very brightlight around perimeter of egg shape with bright blinking light in center of egg shape. Object first seen above reddish morning clouds. Object desending slowing downward into cloud and slowly dropping beneath cloud. When looked at through binoculars, light way too bright to make out object. Object then disappeared like magic and gone. Did not return.