Problem with oncidium flower spike?

[AK_Orchids]

This is my first oncidium (NOID). A few days ago, I noticed a growth appearing at the base of one of the pseudobulbs and as the growth has gotten larger, now I see that it appears to be a flower spike which is exciting. However, unfortunately it seems to be growing in an "S" shape with the base of the spike protruding in a curve between the pseudobulb and the base of the leaf. I peeked inside the leaf on the right and the tip of the spike is enclosed within. What could be causing it to grow in this manner? Do I need to intervene somehow, or just let it be? Is there any hope of it producing flowers if it continues growing like this?