Jelly Text Effect
Start by applying render>>lighting effect from filter menu.
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Apply settings as shown.
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Form filter menu select stylize>>polarize.
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Duplicate the layer and change the layer mode to color dodge. Select and merge both layers.
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Type text using a bold font.
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From filter menu select distort>>wave.
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Apply settings as shown.
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Ctrl+Click the layer thumbnail to get the selection. Hide the text layer. Select the background layer and press Ctrl+J to create a duplicate of selection in a new layer.
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Press Ctrl+L to open levels settings. Apply settings as shown.
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Duplicate the layer. Ctrl+Click the layer thumbnail to get the selection. Form select menu click modify>>contract.
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Contract the selection by 2 pixels.
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Press Ctrl+Shift+I to inverse the selection. Press delete.
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Change the layer mode to linear dodge. Move the layer 2 pixels left.
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Similarly create selection of text layer, contract and repeat above steps twice.
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Play around with different layer modes to get a nice result.
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Fill the background layer with black color.
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Merge all the text layers. Double click the layer to open layer style window. Apply layer style with the settings shown.
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