This passage was quoted by Moroni
to Joseph Smith during his visits of 21-22 September 1823; Moroni said it “was
not yet fulfilled, but was soon to be” (JS-H 41). Note that the explicit
reference to the last days has been added by Peter; it is not in either the
Hebrew or LXX. It is certainly true that the first-century Christians believed
that they were living in the last days; Peter (or Luke) may have believed that
the events of the first Pentecost were the fulfillment of Joel’s prophecy. Some
modern LDS have reconciled Moroni with Peter by emphasizing the latter’s use of
“that which was spoken,” and taking it to mean that the first Pentecost is prototypical
of the sort of thing Joel was prophesying, but that the actual fulfillment
would come at some other time. Alternatively (and more simply), the passage
in Joel might easily have been fulfilled on more than one occasion. (Daniel
McKinlay, “The Acts of the Apostles,” in Footnotes to the New Testament for
Latter-day Saints, ed. Kevin L. Barney, 2 vols. [2007], 1:585-86 n. g, emphasis
in bold added)