While letting out dog out my wife came to get me about a strange light in the sky. I went to our backyard and in the southern sky was a bright red egg shaped object moving very slowly in a northerly direction. My 16 year old son came out and also witnessed this. For 3-4 minutes we watched. The light made no sound and it was steady, as in not blinking like aircraft lights. The light then traveled very slowly to the west then then extremely rapidly appeared to head back south. In less than 3 seconds the light was out our visual range.