Circle beam of light hovering above us

We were outside and all of a sudden my sister laughed jokingly saying, “oh my gosh it’s a UFO” I looked up and saw this large bright light with a faded light surrounding it. It was hard to make out what it was. It was not like any plane I’d seen before. It was so bright and was moving very slow hovering above us. Then in an instant it started traveling fast but away from us. It was so fast. All I could say was what the hell is that. Since my sister was the first person to see it she told me what she saw before we looked. She said it was moving side to side in a quick motion. She said she had never seen any plane move that quick side to side before.