  Context. The black hole candidate GX 339-4 exhibited an X-ray outburst in
January 2010, which is still continuing. We here discuss the timing and the
spectral properties of the outburst using RXTE data. Aims. Our goal is to study
the timing and spectral properties of GX 339-4 using its recent outburst data
and extract information about the nature of the accretion flow. Methods. We use
RXTE archival data of the recent GX 339-4 outburst and analyze them with the
NASA HEAsoft package, version 6.8. We then compare the observed quasi-periodic
oscillation (QPO) frequencies with those from existing shock oscillation model
and obtain the nature of evolution of the shock locations during the outburst.
Results. We found that the QPO frequencies are monotonically increasing from
0.102 Hz to 5.69 Hz within a period of ~ 26 days. We explain this evolution
with the propagating oscillatory shock (POS) solution and find the variation of
the initial and final shock locations and strengths. The model fits also give
the velocity of the propagating shock wave, which is responsible for the
generation of QPOs and their evolutions, at ~ 10 m/s. We observe from the
spectra that up to 2010 April 10, the object was in a hard state. After that,
it went to the hard-intermediate state. On April 18, it had a state transition
and went to the soft-intermediate state. On May 15, another state transition
was observed and the source moved to the soft state. Conclusions. As in the
previously fitted outburst sources, this source also showed the tendency of a
rapidly increasing QPO frequency ($\nu_{QPO}$) in a viscous time scale, which
can be modeled quite accurately. In this case, the shock seems to have
disappeared at about ~ 172 Schwarzschild radii, unlike in the 2005 outburst of
GRO J1655-40, where the shock disappeared behind the horizon.
