1. First off, make a new image 500x500 pixels.
2. Next, take your paint bucket tool (press G) and make the background color black. (Note: press D to set colors back to default.)
3. After doing so, go to filter-render-lens flair (default settings)
and place them on your image like so.
4. Next, go to filter-render-chrome and use default settings.
5. Next go to filter-blur-radial blur. And set it on these settings.
Blur Method: Zoom
Quality: Best
Amount: 16. Click ok.
6. After you are finished with that, you can now set the colors to what ever you would like. To do so, you could whether do Ctrl-U or simply go to image-adjustment-hue saturation.
7. After finding your color, you can now crop the image down by using the crop tool. (Press C to get your crop tool selected)
Here is my final image:
You could throw some text effects into that, and some scan lines, and
tada! You have your first abstract sig!