UFO Sighting in Encinitas?

A YouTube video was recently posted of a video taken July 5, which shows a small, black, orb-like object floating in the sky above some buildings in Encinitas. 

Additionally, in post on UFO Stalker, a July 5 post reports claims that a similar orb-like object was seen in the early morning hours. 

A summary of the report described the sighing as: "Black orb seen from distance without movement, appeared like balloon but flashed multiple colors before surise, stopped flashing after sunrise."

Further details from the poster as as follows:

"I noticed a faint display of colors, rotating in the sky. From the distance, it appeared to be a helicopter or an airplane, but there are no airports in the area."

"When I looked back up, the lights had changed from orange to blue to white and so on. Then I could make out a dark shape that seemed to be changing in shape. I didn't understand, so I went and told mom about it. She came out with me, thinking I was crazy. When she looked into the sky, all she said was "Wow! What is that?" 

"Not once did it move, even drift, so it couldn't be a balloon. An hour later, when twilight arrived, we made out a pure spherical object. It shone blue/black and there was a blinking white light under it, no longer in colors. It also appeared to be rotating, with little bumps on the sides. Finally, sunrise, and I was able to take video with my camera but all you can see is a dot in the sky."