I went to the doctor yesterday and he informed me that I have a grade 3 separation which means that the clavicle has shifted. No surgery is needed but it is going to take some time. It can take up to 6 weeks to be back to 100 percent but in 3-4 weeks I should be able to begin serious lifting.
He also said there is not much I can do to further injure it, so I will start squatting once the pain is gone. Another week or so I will give it a try.