Have that exact same thing over the house right now. It is there every night. The small light at the bottom is always either perpendicular or right under it. Some nights it is larger than others and really bright, with lots of colors. I have looked through binoculars and you can't get a clear view. It distorts. Comes out with the stars, and slowly moves to the gulf coast.
a few nights ago I saw a craft looking kind of thing it was whiteish coloured and it flashed red it was over Fielding new Zealand it just sat in one spot for about 10 minutes then disappeared my iPod went flat so I couldn't take a photo I wasn't surprised since ufo sightings have been on the increase and it was the first ufo I had ever seen 🙂