Is this new growth?
 

I have never seen new growth on a catt to know what it looks like so I took some pics of what I think may be a new leaf starting to grow. There are two spots that look about the same I look a pic of both they are verry small so I really hope you can see them.

Sure looks like a new growth is starting to me.

New growth bud. Probably another one on the other side if you "carefully" remove the dried sheath from the base of the plant. I use tweezers. Check the other one too. Looks like one under there.

Great!!! This is a cattleya dowiana and I have been watering it very little since it was in dormancy now that it is coming out of dormancy can I start to water it more?

As long as the temps are above say 60*f you can start to water it more. But dowiana's like to dry out thoroughly before watering again. These new growths will not have roots until at least half matured. Maybe longer. Mine matured and then put out roots. Being as this looks to be in a basket I think you should be able to water it more. Use a dilute fertilizer at every watering. 20-10-10 would be good. Good luck. Oh...and how many buds are developing? I say three on two pbulbs.

Yes this plant is in a basket with lava rock, and I use MSU fertilizer so would 50 ppm at every watering be good? Right now it is high 70 F in the day, but next week I think may drop.

Would it be ok to repot this plant or should I just wait until Fall.

That is the eye of the orchid but I can't tell if it's started growing or not. I like the way you're growing it. I like to grow cattleyas in wood baskets with large media.

The eye of the orchid? Sorry please excuse my stupidity but what is the eye of the orchid?

At the base of the pseudobulb, on a cattleya, there are at least two "eyes". You can see the one on your orchid but often they're covered with the papery material that covers the pseudobulb. Usually one of those eyes will start to elongate and grow into the next pseudobulb. Often the second eye will stay dormant but it can grow later if the new pseudobulb is damaged or broken off. The cattleya grows along in a straight line, like a vine, and that's called a "lead". Sometimes both eyes at the base of the pseudobulb will grow into new pseudobulbs forming a "Y". That would be considered second lead. The plant would continue to grow from both leads and bloom on both leads. When you see a large orchid with lots of flowers, it's often because the orchid has formed multiple leads that sometimes all bloom together.

Thanks you so much! I cant believe I have not heard of this, maybe I did and forgot, but either way thank you :D