Bright red and blue light in the sky shooting around at unbelievable speed.

I saw 2 very bright blue lights in the sky,  I thought It was a plane at first, then two red lights suddenly came on making a red, blue, red, blue pattern.  I thought ok maybe helicopter, but it shot straight up inthe air at a rate of speed I've never seen a helicopter go.  
Then all lights went out, a white light came on and it shot back down just as quickly out of my sight.  
I yelled to my husband and ran further down my yard to see if I could see it again, by this point the white light is out red and blue are back on it shot down again but this time it shot diagonally.  My husband and I saw this.  
After shooting diagonally, it shot straight back down at an unbelievable speed and disappeared out of sight behind houses.