Vision: Seeing a balloon: good ideas are forthcoming, maybe even a discovery. You might also have a love affair now—but beware—things will soon dissolve into thin air.
If you are taking a ride in a balloon: you have lost the ground under your feet—lost sight of your goals. Watching a hot air balloon explode: somebody is really angry with you—and you have given that person every reason to be angry! See Air, Bali, Helium Balloon.
Depth Psychology: If a balloon is floating in the air: you are daydreaming and will be disappointed; if a balloon is bursting: hopes and dreams will fail.... Dreamers Dictionary