White orb turned pink, then red, then faded out as it moved across the sky.I'm a 31 year old Art Director with a wife and child. I was outside around 6:30-7:00pm on Friday after work playing with my dog, and b/c I live 5 minutes from the airport I happened to be looking up at all the airplanes in the sky. I noted just before the incident about what a clear night it was and how you could see almost all the stars. As I watched one plane that happened to be pretty low probably having just taken off and banking in a southern direction; going just under my clear view of a very bright Venus; I looked down at my dog. When I looked back up to find the plane to see which direction it was heading in, I noticed a single white light moving from the south to the north. It struck me as odd b/c I could see about 7 planes in the sky at one time from my vantage point and I noticed that all the planes in the sky had at a minimum of 2-4 lights on, and at least 1-2 flashing lights. I watched the single white light move north at a somewhat medium pace, wasn't fast, wasn't slow. As it got closer the single light started to turn pink, then changed to red then completely faded out. After I saw that I assumed that the object, presumably a plane, probably banked to the side and the light was hidden by a wing. So I sat outside for 10 minutes and watched the sky in the general area where the object was heading. I never saw a light appear in the area. I still saw several planes in the area, all with multiple light, and flashing lights. I also remembered to recheck the sky conditions for possible clouds... not a single cloud in the sky. I'm a natural born skeptic, so this is strange for me. I was so baffled by this, that I told my wife and of course she laughed and told me I was crazy.