A squeal just about has to be a belt or something driving it or driven by it. There's not really any way the balancer could squeal. Tick maybe but not squeal.
The crank pulley could be worn or contaminated. Something the belt drives could be loading up too much. The belt could simply be worn or loose. A pulley could be out of alignment.
Keep in mind... the belt will slip on whatever pulley has the least traction. That may not be the same pulley as a failing/overloaded device.
You'll have to go thru everything...
One quick test... disconnect the side plug on the alt so it won't turn on. Then start the car. IF the problem stops, then the belt has issues or the alt is bad or the alt is overloading when cold.
If the problem stops, go thru the whole starting & charging system. If something is pulling the battery down, it will overload the alt when you start the car.
Even if the problem doesn't stop, you should check the bearings carefully in both the alt and WP. You can't always count on hearing them when they start going bad. Lots of other engine noise can drown it out when they are just begining to drag.
------------------
11-Sept-01, The day the world as we knew it ended.