Brilliant light hovering over Holston Ordnance Army Ammunition Plant, then moved northeast very slowly

I was sitting in my living room when I noticed a very bright light towards the west. At first I thought it was Jupiter or Venus. Then I realized it was under the dark cloud layer. There was still a sliver of light on the western horizon. The object sparkled with several colors. I retrieved my binoculars, but couldn't make out the size or shape of the object. It was stationary for a while. It appeared to be over the Holston Army Ammunition Plant which is across the Holston River from my neighborhood. After a while it began slowly approaching my location. I took my binoculars and went to the front porch. Here I observed several variously-colored lights. I noted a large red light that appeared on the bottom. This bright red light was constant. As it got closer I couldn't understand what shape it was. It continued over my house and I lost sight of it. One thing that really stuck out in my mind was the absence of a anti-collision or beacon lights, which are required and strobe a brilliant white light visible for at least 20 miles. The object seemed compact and to have some thickness. The colored lights were at the edges. No noise, no trail, moved in a straight line.