The Olympic Games 2012 schedule for day 2 will see Michael Phelps back in action in the swimming competition. Phelps had a disappointing day 1, only managing to finish fourth in the 400 meter individual medley, missing out on a medal. However, he will be looking for redemption in the Men's 4x100 meter freestyle (details to watch online live stream below).

(Photo: Reuters/Michael Dalder)Michael Phelps of the U.S. swims to a fourth place finish in the men's 400m individual medley final during the London 2012 Olympic Games at the Aquatics Centre July 28, 2012.

Phelps, one of Team USA's favorite athletes at London 2012, is already part of Olympic history, winning an amazing eight gold medals at the Beijing Olympic Games in 2008. Still only 27 years old, Phelps is has the goal of winning at least three more gold medals in this year's Olympics to officially become the most decorated Olympic athlete of all time.

The Men's 4x100 meter freestyle relay final is scheduled to take place on Sunday at 4 p.m. ET.

Phelps will join the relay team alongside the United States' oldest competitor at London 2012, 36 year old Jason Lezak. Team USA are the reigning champions in this event, winning a thrilling victory over Australia in the Beijing Games four years ago.

Australia will be coming out fiercely for revenge, and it is almost impossible to separate the two relay teams. The Australian side is coming into the London 2012 Games with strong confidence that they can take gold in the Men's 4x100 meter freestyle. The team has gathered the nickname, "The Weapons of Mass Destruction," named after the nicknames of team leaders James "The Missile" Magnussen and James "The Rocket" Roberts.

The Olympic Games can be watched live in NBC, or alternatively can be watched online through live streaming on NBC Olympics website. The website provides a full schedule of each day's events, and allows users to choose which event to live stream. You can visit the site by clicking HERE.