For this tutorial I'm going to use my Snowglobe Template (for sale in all my stores - listed to the right)
My image is 3600x3600 300 DPI so if your image doesn't match mine you'll need to adjust the settings to suit your image.

Open Your Image

First we'll want to add a highlight on the globe on the layer right above the globe.

Go to your Shapes toolbar and choose the Custom Shapes

Draw the shape out so that it's about 1/4 the size of the globe.

While holding down the CTRL key hit the T (Transform).

Do a right mouse click over the top of the new shape and choose "Rotate 90 Clockwise"

Hit Enter.

Do another CTRL+T, this time choose the Warp tool (see arrow on above image).

From the drop down list choose "Arc" Leave the settings as Photoshop has them. Hit Enter.

Do the CTRL+T and Rotate your highlight around until it looks like I have mine.

At the top of your menu you should see a menu tab that says "Filter"

Click on this and from the dropdown menu choose "Blur" and then "Gaussian Blur"

This menu will appear. Just click OK.

Add a blur to your highlight until it looks like mine.

I have used a Radius of 28.0

Rename your Highlight layer to Globe Highlight (1).

Choose "Soft Light" from your Blend Modes (2)

and lower the opacity to 38% (3).

(Or until your highlight barely shows)

Now go back to your Globe layer (1)

and lower the Fill to 0 (2).

You'll notice that your globe disappears. (3)

That's ok, it will be back in the next couple of steps.

Now double click on your Globe Layer Thumbnail to bring up the Blending Options.

First go to "Inner Shadow" and choose Black as your color. Use the same basic settings I have here (depending on the size of your image).
I have the Opacity at 75%
Angle at 120
Use Global Light
Distance at 5
Choke at 0
Size at 250.

Now go to the Inner Glow and change the Blend Mode to "Multiply" Make your color Black and use the settings I have.
Opacity 45%
Noise 0
Technique: Precise
Source: Edge
Choke 0
Size 250

That's it...

Here's the final image on a colored background.

If you have any questions or comments please feel free to email me at justcreations@ymail.com