Step 1 - Starting Out
Create a new document, and make a dark blue->blue transition with the gradient tool.
Step 2 - Creating the Base Wave
Use the pen tool and create a nice curved line. Then go around in a linear motion. Once you make the outline, right click and select "Make selection". Use the above image for reference on how to use the tool. Then on a new layer, gradient it with a light blue to black gradient. Change the layer's blending mode to screen, and it should look like the image below.
Step 3 - Duplicate and Transform
Duplicate the layer, and then transform it 90º by going to the Edit menu.
Step 4 - Title
Get a nice thick font, and type in text with a white color.
Step 5 - Duplicate and Opacity
Duplicate the text, then flip it vertically by going to the Edit menu. Then change the opacity of the layer to 20%. This will give it a nice reflection effect.
End! Job well done!