Help! Knocking noise coming from rear wheel - video included

Here's a video of the knocking noise: https://youtu.be/J4-hvTmX0HM

So I recently started hearing this knocking noise at low speed. I could also feel it in my footpegs. At first I thought it was a spoke issue, but none of the spokes are loose. I got the bike on a stand and rotated the wheel in neutral and it was still knocking, which makes me think it's not the spokes since there is no weight on them. The chain is at proper tension and the axle blocks are even on both sides and there is no side to side play on the rear wheel.

Could it be that the spokes are too tight? Is it a broken bearing? Something else?

Thanks for the help

I would take the rear wheel off, check the bearings, check the brake caliper and pads, check the rotor, chain tension bolts and blocks, and put it back on with the axle properly positioned with the blocks and nut properly torqued and see what that brings.

Thinking about it a little more, I would take the chain off, and spin it, see what happens.

Watch the chain at the front sprocket while spinning the wheel, it sounds like a badly kinked link or link missing the roller to me.

If its the chain you should see the bad link jump/bind while it goes around the front sprocket.

I will try that and report back...

What Biglake said.
The chain will kink as it goes around the front sprocket and stays kinked til it goes around the back sprocket. It unkinks when the front sprocket "pulls" the chain off the back sprocket under power causing a click or knock that you can feel in the pegs. Happened to me on an older bike, just cleaned and lubed the chain and all was good.

Another vote for chain. My SV used to do that when the links get tight and the chain needed replacing. My WRx just started doing it too. You can feel it in the pegs. Time to start saving for a new chain.

Thanks for the replies guys. Ive been abroad for the last week so I did not get to look at the bike until today. I put the bike on the stand and cleaned then oiled the chain. This did not seem to help with the noise. Its a fairly new chain with less than 500 miles on it. I inspected the chain at the countershaft sprocket and did not notice any kinks or issues while going around the sprocket.

The noise appeared to come from rear wheel so I loosed the axle nut and spun the wheel and the sound went away. I retorqued to nut to spec (90 foot lbs) and the noise returned. I removed the rear wheel and inspected the bearings. They looked normal and didnt have any play but when I held the axle with my hands and spun the weel it seemed exhibit lighter version of the clicking I heard.

At this point I believe its the bearings but not certian. Im going to order another set just to rule them out. Any thoughts?