AFAIK, you cannot create an A record at the top of the zone, only an AWS alias type.
An alias can link to an ELB, S3, CloudFront site or other Route 53 recordset. You have several options:
a) place your instance behind the ELB and create example.com as an Alias ββentry pointing to your ELB. Or,
b) Create example.com as an alias that points to CNAME www.example.com.
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