This photo was taken from the grassy knoll. The route of the presidential motorcade would have taken John F. Kennedy across this view twice. In the upper right of the photo is the Old Red Courthouse. The motorcade passed between Old Red and the building to the left of it, turned right onto Houston Street, and drove from the right to the left of the photo. Behind the two trees on the left of the photo is the intersection of Houston and Elm, where the presidential limo turned left to drive down Elm Street in front of the Texas School Book Depository.
The street nearest is Elm Street, where Kennedy was shot. Someone has painted an X in the middle of the street that you can see in the sunlight near the shadows cast by the trees. (Click on the photo to see it at full-size.) This X does not mark the correct spot, but has become part of the lore of the area, and so is maintained.