Why can t my EC2 instance connect via HTTP to my load balancer

Question

I set my load balancer to allow traffic on port 80 to the security group of my EC2 instance, but the load balancer refuses to connect. To do a sanity check, when I allow HTTP traffic from my IP to the load balancer, I'm able to connect seamlessly. I can only access the load balancer from my EC2 instance when I allow all traffic to port 80 on my load balancer. I keep checking back and forth to make sure the security group that the EC2 instance is in is the same as the one that the load balancer should allow, so I know it's not that. What else could be blocking the traffic?