Chicago, Illinois - 08-18-12

While watching the Chicago Air and Water Show, the fighters in particular, I noticed a silver cylindrical object hovering above Lake Michigan; a couple of miles out, and then two or three miles straight up.

It hovered there during the Army skydivers and the Blue Angels performances; after each pass they made, I would focus my high-powered binoculars on the same spot and would find it there.

I kept moving away from it and going back every so often to make sure it wasn't a trick of light or something.

The object was metallic, silver, and highly reflective. It was slowly bobbing up and down; I could tell as the sunlight moved vertically upon its surface as it did.

There were some low altitude clouds moving from south to northwest, I lost the object after a very thick cloud obscured it.

I was NOT very sure of what this was until I replayed it over in my head and ran down a list of possible things it could have been.

It had no wiggly motions, like a loosened balloon. There was no wavy visual effect; I only wish my binocs were much, much stronger to see closer.

I was only able to just make out the overall shape of it. It was definitely cylindrical, on its vertical axis like a signpost. Near static position, bobbing so slowly, as I said before.

I was scared for what this may imply... either our country has some new tech floating around up there, or we have a problem that could be a major security threat. Either way, I'm exhilarated.