I need help. Local bike shops have not helped. I have a high end racing bike (6.5 Trek Madone with 7900 Durace pedals, SPD cleats, about 2 years old). 2 weeks ago I developed squeaking/squealing on my left side when I climbed hills and stood out of the saddle. I thought it was my shoe so I oiled it, but it didn't help at all. I took it to a bike shop and the mechanic looked at my cleat and said it looked fine, and then tightened the release setting of the pedal and put some lube on it. We also cleaned my cleat with soap and water. The noise went away for about an hour of riding and then returned with a vengeance- but only when climbing or putting force to the pedal. I noticed that if I poured water from my water bottle on the pedal and cleat, the noise would lesson and almost go away for about 5 minutes but then it returned. I can reproduce the squeaking/squealing noise when stationary just be moving my cleat back and forth over the pedal.

Any ideas? Is it the spindle, bearings, interface between pedal and cleat? What is happening? I never had this problem before.