I think "covenant theology" is an empty, meaningless buzz-phrase which is designed to reinforce group-think and clique-ish denominationalism. It is a modern "I am of Apollos" (1 Corinthians 3:4-6,22).
Here are two introductory essays on "Covenant Theology."
The articles above claim that "covenant theology" is very, very different from "dispensational theology." The articles above stress that God made covenants with Adam, Noah, Abraham, Moses, David, and a New Covenant with all Jews and Gentiles, and all those covenants are very, very important, and it is not possible to truly understand the Bible without understanding that God made different "covenants" with different people and their descendants.