I was looking south/southwest (towards Colorado Springs) out my guest bedroom window as we were experiencing an intense cloud to cloud lightening storm and it was quite beautiful. This was at about 8:45 p.m. The clouds were black when I suddenly spotted in the center of the cloud, what I at first thought was the International Space Station...this object was just sitting there, stationary; blue, red white lights (mostly blue) blinking like the Space Station. But I believe the space station is in the northwestern sky? I grabbed my binoculars and watched the object for a good 15 minutes and was amazed by what it was doing...the entire time the lights would pulsate and change color and intensity...with the blue being the predominant color. It would suddenly "fly" vertically...stop and fly horizontally...stop and suddenly "fall" from the sky...only to go straight back up and hover! The elevation was at my eye level...when it dropped, my view was obstructed by houses in the distance. As the crow flies...it was probably at least 10-15 miles away. I live near a string of power lines that run north/south. The object was absolutely flying in such a way that defies astrophysics-I hope that's the right word. Imagine the Space Station flying in such a way, and you will have a pretty good idea as to what the object "looked" like - but again, I was in such awe over its maneuvers that I felt compelled, for the first time in my life, to actually "report" a UFO sighting hoping that someone else in the area was witness to the same thing! I am still utterly amazed! As I watched the object, I couldn't help but to keep saying aloud (to myself) WTF...this can't be happening! Holy S___! This is too unbelievable! I was so wishing that someone was home with me to witness it!! I am hoping that you have received other reports about this same sighting. I hope that this helps you. Thank you very much. PS Although I am surrounded by major airports, I did NOT witness ANY airplanes/helicopters in the sky the entire time I was watching the UFO.