I was watching the night sky when I saw what I thought was a satellite traversing the dusk sky from north to south. It was a bright white light with no strobing affects. After watching it travel to my zenith position at a 45 degree angle, I began to watch it with my binoculars. It was heading due south with all the appearance of a satellite when at 40 degrees from the southerly horizon it suddenly stopped and reversed it's direction without ever changing velocity. I was freeking out because I knew that what I had just witnessed was totally impossible. It returned over the exact path that it had traveled till it slowed and faded out at true westerly position @ 45 degrees from my view point. I did not see it anymore past that point. I have seen many strange things recently, but this is one is the most bizarre. I am still perplexed about this!