Hello:
Your Acer laptop is not detecting a bootable device, for sure your hard disk is:
1.- Malfunctioning and has lost its master boot record.
2.- It can be ruined and must be replaced.
In the first case, primary and recovery partition are bad, as you mention the recovery process failed (ctrl +F11). First, press F2 during POST, when "a enter Setup message" is prompted on the bottom of screen to check if the hard disk is listed on the Main BIOS properties. If detected, the hard disk can be recovered booting from DVD-ROM. In the BIOS setup utility, you need to select boot from de DVD-RW. Insert Windows 7 setup disk and it will check for possible boot errors, choose repair when prompted. Follow the instructions. The system will restart.
If the hard disk was not detected in BIOS properties, you should ask Acer for guarantee.
You may review this link for further information:
http://www.acerlaptoprepairs.info/aspire-5534/
I hope this helps. Thanks
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