I was stopped at a stoplight on hammond going w turning l or south on gilbert rd. i was looking at the crosswalk signal facing s slightly w to get forewarning of the light to change. i saw this oblong or tic-tac shaped object no more than a mile away at a altitude traffic helicopters typically travel, being in the flight path of commercial planes flying into sky harbor airport it was moving slowly, traveling e towards me. it looked 3d pearlescent white with silver metallic sparkles. it was heading under a billowy cloud and the leading edge became translucent, i could start to see the cloud through it. i lost sight of it when it went behind a conical tree top. the light turned green and i turned s on gilbert rd. i looked up to where it was in the direction of its path, but it had disappeared. it might've moved quickly in the 4 seconds it was behind the treetop, out of my sight and could've gone in any direction, but my gut tells me that it was fading and turning invisible and that it completed the transition into invisibility by the time i could see that area of the sky again. i only viewed it for 10 - 15 seconds and didn't even think about trying to get my phone out to video it and i wouldn't have had the time if i did. what shocked me is that it was in broad daylight in sunny az with city traffic all around. i kept on eye on the news to see if anyone else had seen it, but i never saw anything about it that day or since. i decided to report the sighting to mufon in case someone else reported it or if others has seen similar objects.