  From Landau-Alexander-McTague theory and Monte-Carlo simulation results we
show that the modulated liquid obtained by subjecting a colloidal system to a
periodic laser modulation has long range bond-orientational order and non-zero
shear rigidity. From infinite field simulation results we show that in the
modulated liquid phase, the translational order parameter correlation function
decays to zero exponentially while the correlation function for the
bond-orientational order saturates to a finite value at large distances.
