I held Shift and used the rectangle tool then reduced the opacity of the layer to give a semi-transparent effect.

Just some simple circles her, I added a few of these dotted about.

I added some more simple shapes in different colors like the white rings but I'm sure you've got the idea now.

Step 14
Last thing to do in almost any Photoshop image is to experiment with some color adjustments, the way I see it is if your a beginner then use the hue/saturation adjustment layer, an intermediate then go for the color balance adjustment layer and if you have a bit more experience or feel adventurous then try the curves adjustment layer. I added a curves adjustment layer with the settings shown below and mainly lowered the output of the blue channel increased the rest as the image was looking to cold I felt.

Conclusion
Obviously there's a lot further you can take this but the techniques I've shown here are really all you need to create an abstract photo manipulation like this one.
