1) Make a new document, anysize doesn't matter. I used 300x300. Start out with White as the background color.
2) Select the gradient tool. Use the spectrum gradient and set the blending to Difference. Make multiple gradients lines all over your canvas:
3) Press CNTRL+U:
4) Duplicate the layer and set the blending change to Hard Light:
5) Go back to the background layer and apply a nice big lens flare in the middle. Filter>Render>Lens Flare.
6) Apply Filter>Distort>Twirl to the top layer:
7) Duplicate the layer a few times:
For each layer you duplicate go to Edit>Transform>Rotate 90cw.
Switch the rotation up for each new layer and you will end up with
something similar like below.
Set the layer thats above the background layer to Color Dodge. This will brighten your graphic.
More Tutorials: 
