1. What does the sky symbolize?

Light (sky) blue: peace, serenity, ethereal, spiritual, infinity

(The origin of these meanings is the intangible aspects of the sky.)
The sky has often been seen as the abode of gods or God, to the extent that the Old English
word for sky, "heofonum", is now our word "heaven" which almost always means the abode
of God.
The sky, during storms, has been looked on as a source of power and has been represented
by powerful gods such as Zeus and Thor. It is thus symbolic of power
But the sky is also the source of rain which makes plants grow and which feeds us.
Symbolically the ancients viewed this as a sexual act, with the male sky fertilizing the female
earth. The sky is in this sense a symbol for potency.
On the other hand the Egyptian sky-god was a goddess, Nut, whose naked and starspangled body arched over the earth, protecting it. Here the sky was a symbol of protection.
In the medieval view, the sky was the outermost shell of the universe which consisted of a
series of concetric spheres with the earth at the centre. While the other spheres moved, the
sky was the "firmament" and was a solid barrier or veil obscuring the "seventh heaven"
(which was the abode of God) from mortal view. In this sense it can be symbolic of mystery
or the limits of human knowledge.
More recently, the sky is viewed as a symbol for vastness or limitlessness, in such
expressions as "the sky's the limit."