I stepped onto my front porch and saw what i thought was someone shooting off fireworks to the southeast. a fireball rise rapidly and gently slowed its upward movement. as it slowed it's ascent i waited for it to explode, but it began traveling toward me. i called to my wife to come see, and she came. i watched and thought perhaps it is a hot air balloon as it reminded me of a japanese lantern. it had a white rectangular box shape with the fireball suspended beneath it. i'm thinking it was the propane flames they use to heat the air in the balloon, but it was a very red color flame that i thought was unusual for that. the fireball was bright red and seemed to pulse slightly, but it looked to me like the flame was reaching upward. when my wife arrived, it was much closer. she says all she saw was the fireball, none of the other features i saw. in a matter of seconds it passed over my house headed northwest. we ran around the house and continued watching it until it was hidden by some clouds. judging by other aircraft we normally see in our area, it traveled faster than a commercial airliner, but slower than the military jets that pass here now and then. the object made no sound, had no wings, no rotor, left no contrail or smoke trail and the fire could be seen from all angles. the whole event lasted maybe just over a minute, if that long.