First you type your text in a nice, decently thick font. I used Showcard Gothic.

Next you double click on the layer and go to blending options. Click gradient overlay and change one of the settings to any color, and make the second setting to a darker shade of the first color.
I used #0096ff and #00375d

Now create a new layer called "Highlight".
Then you use the elliptical marquee tool to make a marquee similar to this:

Next fill in the marquee with white,

and ctrl + click the text layer to select it.

Then go to select > modify > contract > and set it to 2 pixels.

Press ctrl + shift + i and then click on the "Highlight" layer.
Click delete to get rid of the excess white, and then turn the opacity down to 30%.
This should be your final result:
