Papal Conclave Day 2: Watch Papal Conclave Online Live Stream; White Smoke Indicates New Pope

UPDATE: White smoke rose from the chimney of the Sistine Chapel. The new pope is expected to greet the crowd after senior cardinal Jean-Louis Tauran informs the crowd: "Habemus Papam," Latin for "We have a pope."

While the world is waiting for a puff of white smoke, the Papal conclave continues late into Wednesday. To watch the Papal Conclave Live stream, click HERE.

While the program is mostly secretive and mysterious, let's take a look at the strict schedule that cardinals have been living by.

According to CNN, this is a look of how the day will unfold.

6:30 a.m. (1:30 a.m. ET)

Cardinals wake up and have breakfast in Santa Marta, their residence at the Vatican for the duration of the conclave.

7:45 a.m. (2:45 a.m. ET)

Cardinals move from Santa Marta to the nearby Pauline Chapel

8:15 a.m. (3:15 a.m. ET)

Cardinals celebrate Mass inside Pauline Chapel

9:30 a.m. (4:30 a.m. ET)

Cardinals enter Sistine Chapel, pray the liturgy of the hours and proceed to vote. Two votes in the morning (unless someone is elected on the first ballot)

**If they elect a pope in the first morning ballot, there will be white smoke around 10:30 a.m. local (5:30 a.m. ET) If they elect a pope in the second morning ballot, there will be white smoke around noon local. (7 a.m. ET) If they do not elect a pope in the morning session, there will be black smoke around noon local (7 a.m. ET)

12 p.m. (7 a.m. ET)

Cardinals return to Santa Marta for lunch.

4 p.m. (11 a.m. ET)

Cardinals return to the Sistine Chapel and resume voting

**If they elect a pope in the first afternoon ballot, there will be white smoke around 5:30 p.m. (12:30 p.m. ET). The white smoke for Benedict XVI came at 5:50 p.m. (12:50 p.m. ET) If they elect a pope in the second afternoon ballot, there will be white smoke around 7 p.m. (2 p.m. ET) If they do not elect a pope in the afternoon session, there will be black smoke around 7 p.m. (2 p.m. ET)

7 p.m. (2 p.m. ET)

Cardinals recite the Vesper Prayers in the Sistine Chapel.

7:30 p.m. (2:30 p.m. ET)

Cardinals return to Santa Marta.

8 p.m. (3 p.m. ET)

Cardinals have dinner.