Many advocates of preterism, replacement theology and covenant theology often cite Acts 2:16 as support for their interpretation of Scripture. However, I do not believe that Peter’s statements furnish a basis for their conclusions. “Preterists . . . generally see these signs as predictive descriptions of the A.D. 70 destruction of Jerusalem by the Romans.”1 Gary DeMar believes that this passage was fulfilled in the first century.2 Instead, Peter merely references the Joel passage as support that the Holy Spirit is the cause of the events in Acts 2 just as the Holy Spirit will be the cause of events in Joel 2. Let’s look more closely at the details in the passage.
Ice, Thomas D., "Peter's Quotation of Joel in Acts 2" (2009). Article Archives. 87.