First off, I love the poses of Celestia and Luna, it looks really adorable. Just seeing ponies sit in these kind of poses is all kinds of awesome for me. Next I absolutely love the way Celestia is hugging Luna to herself in obvious fear, whist Luna seems really relaxed and amused at what she is seeing.

Kudos are also warranted for use of wings to add to a characters emotional expression. I feel wings are really under utilised to highlight a characters emotional state. For example, a batwing pegasus gnawing on their wing, unsure of how to proceed.

Another thing I love is the size difference between Luna and Celestia, you really get the feeling that Celestia is the older sibling in this image. I also like how long you made their horns, making them pretty accurate in regards to their length in the show. I also adore youir use of shadow in this image and how it emphasis's that Celestia and Luna are indeed watching a film together . Shadow detail overall, looks fantastic, next work.

I also enjoy the characters manes, which look great in this image, but I am left scratching my head at what happened with Luna's tail . Luna's tail just looks a lot rougher than the rest of the image, like you never got the chance to fully finish it. Overall I love this image and think it's one of your best Mickey and urge you to try for images of this quality in future.