Here's a lil more complicated tut, well not really....
1) Start a new document, i used 400x400
2) fill in with black
3) filter > render > clouds
4) filter > render > difference cloud
5) filter > sketch > chrome
6) filter > distort > polar coordinates, check polar to rectangular then click ok
7) press ctrl+u, check the colorize box. i used the following settings:
hue: 200, saturation: 80, lightness: 0
8) duplicate the layer and change the blending options to overlay. after doin this, merge the layers, to do this press ctrl+e
9) duplicate the layer, flip vertically (edit > transform > flip vertical) and set blending mode to screen
10) filter > distort > wave. click randomize several times to see possible outcomes, choose the ones that arent too wavy...
11) merge the layers
12) duplicate the layer. set the mode to screen then merge the layers again.
13) repeat step 12
14) duplicate the layer. set the mode to LIGHTEN then merge the layers again...then you're done
this is what i got...

did it again and got this

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it looks better when you make it, it looks a lil aliased here...