Charismatic Theology is the belief that the gifts of the Holy Spirit have continued to this present age, specifically the sign gifts such as tongues and prophecy. Charismatics are considered either Pentecostal, Charismatic and Third Wave, although these terms sometimes are used in a general sense to include the other.
1. Pentecostals believe that the baptism of the Holy Spirit is generally always accompanied with speaking in tongues.
2. Charismatics believe that the baptism of the Holy Spirit is not necessarily accompanied with speaking in tongues.
3. Third Wavers believe that the baptism of the Spirit is during the time of conversion, and not refer to a second experience of receiving the Spirit like the first two.
The first "wave" occurred at the beginning of the twentieth century with the rise of the Pentecostal movement, beginning with the Azusa Street Revival. The second "wave" occurred during the 1960s as the Charismatic movement spread throughout some Protestant denominations, as well as the Roman Catholic Church. The third "wave" occurred during the mid 1980s, and is identified as a resurgence of church planting and a new commitment to signs and wonders in evangelism. For more information, click on Wikipedia.