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I believe this following URL will surely hlep you.
Here is the circular progress bar created with CSS3 which wil realy help you:
Also You can have a look on http://anthonyterrien.com/knob/ . i used it before and its very good
i think you should use html5 for creating a loading sign. if you hav some design skills then create a sprite image and using jquery and css margins dynamically to give it rotation.
Might be you are looking for this kind of script at http://jsfiddle.net/oskar/Aapn8/
Additionally, You can use this Plugin as alternative in Jquery named as jquery.speedometer.js available at https://www.assembla.com/code/cornell_hci_flashback/subversion/nodes/popcore/trunk/base/static/js/jquery.speedometer.js?rev=128
Kind Regrads:
MD Danish