Strange lights sighted and then airplane with no lights sighted.I spotted this with my naked eyes while looking for ison. It was east south east of the city. At first I chalked it off as an aircraft but I got my binoculars and upon further examination I could see many colors. Sort of like a cops lights on but there are many more colors.I set my binocs on the side of my truck to steady them and could still see many colors. Blue, red, green, violet, amber and possibly yellow all rotating around a central point. I'm watching it now and it is not moving. Other than the lights. It has maintained its position for a few hours now.Also their is a blacked out airplane flying circles overhead. The local airport is across town maybe 20 miles. I thought it was a helicopter but it is an airplane.