San Diego CA, Bright orange light traveled east , then faded and parachute/ jellyfish shaped object floated downward slowly.

It was approximately 12:10 am, when I got up to close the windows in my living room, (facing west).  I noticed a bright orange light flying in a southeast direction coming from the west(the beach).  It didn’t make any noise, and did not resemble an airplane.  It just seemed to be floating by at a very steady pace.  I ran into the bedroom and looked out the window there, by this time I had called my husband to come look at the object.  That widow faces south. The object was still moving in a southeast direction.  A shooting star shot across the sky, and the orange light dimmed and faded away, it left a cloudy haze. It looked like a parachute came out of it.  It was dark and I could not see the color of the parachute, but it resembled a giant transparent jellyfish.  It slowly floated downward until I could no longer see it.  My husband saw the faded orange light and the giant jellyfish.  We figured it might have just been an aircraft since there is a naval base in that area.  As I researched what we witnessed, I found this site with similar sightings.  We both believe it was a UFO we saw last night.