1. Start off by opening a standard desktop size 400x400 px document.

2. Now create another layout above the default background layer. You can simply press CTRL+SHIFT+N.

3. Press "D" to reset your colors to black and white. Next, click on filter (top menu)->Render->Clouds, you will instantly get a black and white cloud effect added to your document. Follow with me for now, its doesn't look great yet.

4. Now go Filter->Pixelate>Mezzotint. In the pixelate box, select the type as Medium Lines and press ok.

5. Now go Filter->Blue-Radial Blur. Select Zoom, and set amount to 100. It may take a moment to perform.

6. Press CTRL-F (Repeat Filter) twice, this will smooth out your zoom effect.

7. This is where all the fun starts. You need to now duplicate the selected layer. Layer->Duplicate Layer

8. Now go Filter->Distort->Twirl. Set amount to 250.

9. Now its going to get a little bit confusing, we now want to duplicate this layer: Layer->Duplicate Layer

10. With this layer, we want to flip it vertically. Edit->Transform->Flip Vertical

11. Now we will set this layers Type to "Overlay"

12. This is the affect we are looking for. Now we are going to add color. Blue often look nice. Select the first Twirled layer. Press CTRL-U. Select Colorize Set Hue: 196, Saturation: 50.

13. Select the last layer you created, we are going to add another layer of color to it. Press CTRL-U. Select Colorize Set Hue: 203, Saturation: 61.

14. You are now completed, I got something like this: