I agree with Lindsey!
MissySue, Cattleyas bloom from the apex of the new growth. Right now your new growth is about a third of the way along.
In relatively short order it will grow taller and mature, the single or double leaf with open and push away from the pseudobulb. At that point the apex, the very top of the pseudobulb will be visible. There most likely will be a sheath, which is a protective leaf-like structure guarding the developing buds. They may have already started and be within the sheath or they will start growing upon maturity of the pseudobulb. Not all Cattleyas do the same thing but it blooms one way or the other! Usually from within a sheath.
Good luck!