Preterist believe that 70ad brought the end to the old covenant age. It's replacement the new covenant age includes ALL men including the ungodly. This is another example of how a doctrinal system which declares old things end within the timeline of any historical event can lead one to believe that ALL are in the new covenant age. God establishes his covenant only within his people, the elect. He writes his covenant on their hearts. So how can his covenant be about 70ad when the covenant is eternal and internal, and not temporal and external like the events surrounding the destruction of Jerusalem were?
David Green
Thus, there was always one Way of justification, as there is one God, one human family and one Eternal Covenant. That salvation was predicted, foreshadowed, and proclaimed in the old testament; it was a salvation that would be fulfilled and realized at the Cross of Christ, and fully consummated at His Presence in the end of the old-covenant age in A.D. 70. That Salvation is the heart of the old and New Testament.
Through the cross then, it was revealed that mankind was, spiritually and covenantally speaking, dead. He was dead in sin. For the death of the Messiah was the death of man. By A.D. 70, man was twice dead, for he was not only judged as a breaker of the old covenant, but of the New Covenant as well, and God's fiery judgment against sin, and His fierce vengeance was meted out in the end of the age. The time for man's righteousness and glory was over. Every possibility for him to aspire toward Heaven was exhausted. There was no conceivable hope left of man ever receiving the blessing of God.
http://www.preteristcosmos.com/ncs.htm
