Actually I think it looks more like new growths, based on their location. On mine cym the spikes come up between leaves, and the growths are at the outside, like in your picture. But growths and spikes look very similar in the beginning. I think (but am not sure) that if you gently squeeze it, a spike would feel a bit hollow while a growth would feel solid.
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Camille
Completely orchid obsessed and loving every minute of it....
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