Wrangler Fan Belt Squeel

Awful proud of myself! With the help of Automotiveforums.com, I replaced the water pump and serpentine fan belt on my 1993 4.0 L Jeep Wrangler! Likely saved about $200 here in Chicago! Tough get'n the fingers in and around that power steering device that hang's off the fan belt. Everything seems to work like a champ EXCEPT for the fan belt squeeling at engine startup. I assume this results from either too tight a fan belt since the belt certainly doesn't seem to be too loose. It wasn't clear how one sets the tensioning of the belt but I turned down the 'bolt' on the power steering housing until only minor 'deflection' of the belt resulted. As an effort to stop the squeeling, I sprayed some belt dressing and that seems to help but not an entire solution.

Any suggestions?

Fan belt is too lose.