The Internet's Finest Tropical Fruit Discussion Forum!"All discussion content within the forum reflects the views of the individual participants and does not necessarily represent the views held by the Tropical Fruit Forum as an organization."
Those are flowers congratulations. My reds usually set fruit first time flowering so you will most likely get fruit, just keep it well watered.
Could be flowers but you would know by now since they develop so quickly. Usually the flowers have some fluffy white edges but I don't really see that here. I can't tell from the photos if the bark is peeling, which is a good indicator to me that the tree is ready to fruit. I keep lots of water on my trees and they fruit almost constantly.