UFO Sighting in Newport Beach, California on September 28th 2014 – Incredible plasma orb hovering over tree in my backyard

I was sitting on my balcony having a cup of coffee when I noticed this incredible orb hovering above the tree just behind my back yard. The object caught my eye immediately as it was very low not more than 10 feet above the tree top. It was also hovering still above the tree which is very unusual. It stayed in this hovering position swaying back and forth for about a minute before ascending upward. The object flew upward and picked up speed. Then surprisingly it changed direction and started flying downward back towards the tree and telephone wires. At this point I knew the object was not conventional and was demonstrating controlled movements. The object appeared to be the size of a beach ball or basketball. I recorded the entire event on my Sony HX3-NX3 camcorder. I didn't have time to set up the tripod however the recording is fairly stable given the circumstances. This video covers the first 4 minutes of the capture of the orb hovering above the tree, flying upward, then flying downward before I turned off the camera content with the capture. Thank you for your time and analysis.