Stepped outside to smoke a cigarette, looked up and noticed a bright flickering flame in the shape of what I thought was a parachute. It looked like it was falling to the ground within 50 yards of my location (thinking it was one of those fourth of july parachute things that caught on fire) I stepped towards it to retrieve it from my neighbors yard. At that moment I noticed it changed direction slightly and was moving differently than something falling to the ground. As I observed it further it became smaller and looked as though it was gaining altitude now. I observed it further and noticed an aircraft at normal traveling height maybe 30k feet, could see its lights as it was dark. The object was traveling opposite its direction and below it’s altitude and continued to become smaller, it was not falling off the horizon like an aircraft as it traveled southward but was becoming smaller. I watched it further until it became to small to observe.