A latex when subjected to shear can exhibit Newtonian or a non-Newtonian flow and a yield stress depending on inter-particle forces. Under dynamic deformation, elastic modulus shows a plateau as the shearing frequency is decreased. Acrylic latex was made under varying processing conditions, which resulted in differences in yield stress, elastic modulus and non-Newtonian behavior. Coalescence and fusion results from interplay of inter particle forces (van der Waals, electrostatic and stearic forces) which are opposedby mechanical forces (hydrodynamic and Brownian) forces. Static and high frequency shear modulus are particle and concentration dependent. Experiments on latex colloids under dynamic oscillation are found to be consistent with the models.