Shawna had questions in another thread about her seedling Cymbidium dayanum. You can see her photo here:
Cymbidium dayanum in bloom
Rather than continue to hijack that thread, I'm starting another.
Yes, Cymbidium spikes originate at the bases of the pseudobulbs. In different plants they may hang down from the plant, arch up then down, or stand up relatively erect.
Now that I see your photo on my desktop, I can tell your plant is ready to repot. The seedling was originally placed at the center of this pot when transplanted out of the compot. It has since grown to the edge of the pot. There are new growths against the pot edges at the top and left of the photo. There is a good layer of moss on the medium, and it looks like it's breaking down.
Cymbidiums grow new roots with new growth. They can also grow new roots between new growth, but there will always be new root growth with new vegetative growth.
Many people think they do better in relatively deeper pots than used for most orchids. With a loose potting mix, overpotting them is not as much a problem as it would be with other orchids. Your plant could easily go into something with the proportions of a 1-quart / 1 liter food container, a little taller than wide. It would appreciate the root room, and grow even faster. This is also the kind of container I use for S/H.
Here is my plant, in S/H. It was the size of your plant when I got it in