After rising from sleep at 5:45AM, I looked out the window to check weather as I usually do and noticed far above my neighbors tree, a strange lighted object as described above. It was extremely large and bright, and I first thought it was aircraft moving in my direction, so I watched for about ten minutes and it did not move, but seemed to pulsate and there appeared some faint colors from the edges, mostly blue. I immediately ran outside to observe from the ground and look around the sky and see if there was accompanying noise. There were alot of bright stars and objects that appeared to me to be satellites, but nothing this large and bright.I woke my husband and grabbed my camera, went back outside, but the object had moved further away from my first vantage point. I began to take digital photgraphs and noted the surroundings. It was calm, no wind, quite chilly, around 39 degrees, and a beautiful clear sky. Very quiet. I continued to view the object as it ascended quite rapidly and a commercial airliner passed just about where it had been prior to moving. Once the aircraft passed, it slowly descended near to the position it was prior to the airliner passing, but it was visibly further away in distance.By 7:15AM the object had ascended quite far and appeared as a bright star, very far from my view. I took one last photo that is astounding when viewed at magnification.At approximately 7:20 AM, I noted two jets trailing the early morning sky in the northeast, but lower in the sky than where I had first observed the object.