Light over Peoria, IL that moves slowly, stops in mid-air, hovers, changes colors, shoots in opposite direction and disappears.

Years ago I was standing in my house getting ready for bed and I looked outside at the forrest across from my house.  I noticed a circular blue light traveling slowly over the tree line. The light glowed steadily, did not blink or flash, and was larger and brighter than a light on any aircraft I have seen.  
The light moved in a straight line in a southern direction quite slowly then made an abrupt stop in mid air and hovered for a second.  The blue light glowed intensely brighter and then turned bright red and shot back north in the direction from which it had come.  There was just a red streak for half a second when it shot back, and then it disappeared.  
I have never seen anything move that fast, and I have never seen anything just disappear.  I would have thought something like that would have made a sound even through a window, but I heard nothing.  I told myself I must have imagined it, but I know what I saw.  I don't know what it was, but it was not similar to anything I have seen before or since.
Witness indicates that the date of the incident is approximate.  PD