An egg-shaped white light with a red tail crossed a clear sun-lit sky.

While sitting outside my apartment complex waiting for a friend I observed a large egg-shaped white light. The smaller end of the light (point) was forward. At the rear (about the three-quarter point)and on top I observed a red rectangular light that extended beyond the tail end. From my vantage point the object appeared to be about the size of a golf ball. I percieved it to be at about the height (or lower) of a jetliner and it moved at about the speed of a fighter jet, but I could hear absolutely no engine noise. The sky was almost clear and in broad daylight, but even so, it was as bright as a sixty watt light bulb. There was no contrail behind it. It crossed my vision in a perfectly straight line and then made a sudden forty degree turn downward; not an arc but a perfect angle. At that point it disappeared behind a line of trees east of my position.