Step 1:
Create a new document, with a white background. Size doesn't really matter, but bigger tends to be better.
Step 2:
Grab the brush tool, and set it to a soft brush, size 3. Foreground color black.
Step 3:
Scribble around, a lot.
Step 4:
Filter>>Blur>>Radial Blur, settings to Zoom, Best, and amount at 65.
Step 5:
If you don't already have it open, open the Layers window. Duplicate your base layer.
Step 6:
Edit>>Transform>>Flip Horizontal. Set this layer to Multiply and press Ctrl-E to flatten the two layers. Duplicate the layer.
Step 7:
Scribble around, a lot
Step 8:
Filter>>Blur>>Radial Blur. Duplicate the layer.
Step 9:
Edit>>Transform>>Flip Horizontal. Set the layer to Multiply and press Ctrl-E.
Step 10:
Set the layer to Soft Light. Press Ctrl-E and duplicate the layer.
Step 11:
Edit>>Transform>>Flip Vertical. Set the layer to Darken and press Ctrl-E. Duplicate the layer.
Step 12:
Set the layer to Screen. Press Ctrl-E, then duplicate the layer.
Step 13:
Scribble one more time.
Step 14:
Filter>>Blur>>Radial Blur. Duplicate the layer.
Step 15:
Edit>>Transform>>Flip Horizontal. Set the layer to Darken and press Ctrl-E.
Step 16:
Filter>>Distort>>Wave. Leave all of the settings alone, but go ahead and hit Randomize until you find something you like. Repeat Edge Pixels is suggested, but you can have Wrap Around if you want. Matter of choice.
Step 17:
Duplicate the layer. Edit>>Transform>>Flip Horizontal and set the layer to Lighten. Press Ctrl-E.
Step 18:
Set the layer to Difference. Now press Ctrl-U, check Colorize, and play around with the first two bars. Leave the last one alone. Press Ctrl-E and duplicate the layer.
Step 19:
Filter>>Distort>>Wave, hitting Randomize until you find something you like. Duplicate the layer.
Step 20:
Edit>>Transform>>Flip Horizontal. Set the layer to Screen and press Ctrl-E.
Step 21:
Set the layer to Soft Light. Duplicate the layer and set the new one to Normal. Now, turn the visibility off of the layer, and select your second one. Press Ctrl-E to flatten the bottom two layers.
