1. i was exiting from a evening karate dojo session.
2. the distinctively bright and red luminescence (despite obvious street-level light pollution), that was surrounded by a dark sky.
3. a commercial airline
4. the object was spherical in shape, luminous, it pulsated from red to violet, it appeared to be "spinning" (it appeared to have a strip of white exterior white lights that all rotated in sequence), it stood in one spot hovering, spinning, then after 2 minutes of viewing it started to move slightly straight to the left slowly, then stopped, hovered in this second spot, after 4 and a half minutes of viewing it starts to vanish from the second position it is rotating, without any cloud cover to disappear from (which was very unusual).
5. my feelings at first were simple curiousness, slight confusion as i try to find the usual flickering tail lights of common planes and noticing they are not present, after closer observation, self confirmation that i am viewing a unidentified object which is spinning, frozen as if i didn't have time to fully react.
6. the object vanishes from its second fixed position in the evening, cloudless sky, the best way to describe the manner in how it appeared to disappear was like slowly peeling a sticky price tag on the surface of something ( i hope this makes sense).