I was outside watching the fireworks about 20 mins earlier after a new years eve party, as i was helping to clean up outside i heard gunshots so i happend to look at the sky and thats when i saw it. it was a bright red circular light moving across the sky. at first i thought it was a plane or comet but i had never seen a plane with that bright red of a color and it wasnt flashing so i knew it couldnt be it. the object was flying in a continous path but would ascend and descend at certain points, as i watched it fly i attempted to take a video but it was dark so i took pictures instead. at the moment upon seeing this i felt confused as to what it could be. i lost sight of the object as it disappeared over some trees, but not before the bright red light was turned off and the object was grey.