UFO Sighting in Cranberry, Pennsylvania on July 11th 2015 – stationary red light w/ green light front and rear. sat motionless for 5+ min then northwarn departure turning eastward abruptly and accelerated beyond capacity of known aircraft capabilities

My wife and granddaughter and me went to an annual community day carnival ending w/fireworks. Fireworks started at 9:36 pm as wife noted that they were close to scheduled time. we watched for 5-10 minutes when my wife pointed to me a light(red) stationary above and to the left of the fireworks( appr. 45 degrees to our right) at 45-50 degree elevation. My first thought was it was a radio or aircraft tower. Then realizing where I was and that there are now towers of any kind within seeing distance I said it was a UFO as I normally do. my wife, a nonbeliver, continued to watch this thing instead of the fireworks. it was a steady red light w/ blinking green lights front and rear. Like it was watching the fireworks as well. then it started to move away from the fair grounds, straight away from us, made an abrupt 90 degree turn and sped off(faster than any aircraft ive observed) into the surrounding horizon( eastward) My wife was the one who first noticed it and thought it was maybe a Chinese lantern hovering. You asked me at checkout if time was exact or appx. I opted the appx but the time est. is within 5 minutes of accual tim of day