Duplicated the background and then flipped vertically, then ran a displacement filter to create the water ripples. Used a gradient mask to create the fade.
Added the clock and then used the pen tool to cut where the water would be. Then duplicated the layer and then flipped it vertically. Used the same displacement filter to create ripples.
Added a new layer filled with black and adjusted the opacity. Then created a new layer set to color dodge and painted the highlights on the clock and in the background.
Added a new clipping layer above the bear and used a black brush to paint highlights. Created another clipping layer and filled it with black and set to color dodge. On this layer I painted the blue and red highlights.
Added some lens flares on a new layer filled with black and set to screen. I then chose colorize under hue/saturation to adjust the color. Added a new layer and filled it with black and set to color dodge. Painted the purple and green cast lights.
Started painting with a green brush to add some depth. Then finally ended with a bubble brush with multiple layers sizes and opacities with a slight color dodge painting at the end.