First of all, this tutorial should not be confused with the "Make an aqua orb" tutorial, or "Glass Ball Tutorial Link" tutorial. So, let's get started!

1. Make a new 256x256 Document in photoshop (remeber this tutorial makes a vector ball. For those who don't know what a vector drawing is, it's just an image that's infinitly scaleable)

2. Using the circle tool, make  circle (holding down "Shift" will make a perfect circle) with the color of your choice (#0000c6 was used in this case) Screenshot:
 

3. Using the circle tool, make an ellipse like in the screenshot (any color can be used). Screenshot:

4. In the blending options of your ellipse (not your circle), set the fill opactiy to 0. Then, select a Gradient Overlay with these settings:

5. Open your circle's blending options. Select Inner Shadow with these settings:

6. On a new layer, make an elliptical selection and fill it with black like this:

7. Do a 15 pixel gaussian blur on your layer. Then set the opactiy to 40-60%, depending on what you like.

8. Step back and admire your work!

My final result with some tweaks:
The PSD (rasterized, but still with layers) and variants are avaliable here

But wait! There's more! You'll now learn how to add it into a fake interface (like mac os x gell buttons)! Just follow the tutorial here.

Tutorial updated

Not bad for beginners, but the shadow looks weird. :^^:

nice tutorial simonXP. thanks for making it for us.

here is my version of orb, based on your tutorial + some tweaks.  

edit: yes as azurra suggested the shadow in your orb can be corrected a bit. may be -90 degrees. and less of opacity and less of distance and spread.

you can judge better as this orb is done by you.  

Thanks for your advice! But are you talking about the drop shadow or inner shadow?

EDIT: inner shadow assumed, tutorial updated

Good work SimonXP
I think Azzura was talking about the Drop shadow.

Thank you ASHAR, tutorial updated.

may be you can also edit your final result.

(this time with less of drop shadow)

you should try not to use the "Drop shadow" Effect it always makes the pic looks flat.

try to make a shadow as the one Overlord explained in the "Tux G2" tutorial : a circle filled with a color, unselect the circle and add a gaussian blur effect

Thank you, ASHAR and Didas. The tutorial has been updated (majorly. I even took it down while I worked on it )

It's much better with this shadow.

very good shadow this time simonXP. Very good.  

Thanks! I will update my icon pack to include shadows like the ones in the tutorial.

congratulations simonxp. nice work and tuto.

hmm nice... i'll give it a try soon

nice & easy Tutorial =)) Many Thanx ..

Wanna share your result?

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Glomping the internet populace.

One forum at a time.

Well Here is my try. I made it in fireworks instead of P.s (im at school)  
 

 
variation ( Gradient background to orb instead of solid and 'football' stripes too!)
 

 
Edit(2)
 

 

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Glomping the internet populace.One forum at a time.

Whats the software nam?????????????????????