Last night around 9:30 or so, I glanced up into the clear evening sky and noticed a bright object to the southwest about 30 degrees from the horizon. At first it was no big deal as I considered it to be a jet or far-off helicopter, but then I noticed that the bright object was not moving from its location, even after 5 minutes. I then went inside, grabbed a pair of binoculars, and went back out to study the phenomenon. Through the glasses, the object appeared more vivid with pulsating lights of a definitive white, red, blue and what I thought seemed to be a faint trace of green. I figured it was a weather balloon or high-flying helicopter. It vaguely reminded me of the flashing lights of a police car way, way off in the distance. I mentioned it to my Father who was nearby, and his conclusion after giving it the once over, was that it was a satellite.