Is this a flower spike or new growth on my Oncidium Sharry Baby?

[Utahorchidlover]

I purchased my first four Oncidiums in the last couple of months and this is the first new growth I've seen on any of them, this is on the Sharry Baby. I have searched through the web, and I still can't tell if it's vegetative growth or a flower spike. I'd appreciate any opinions from experienced Oncidium growers.

Thank you!