Everything was going so well for Arsenal this season.
That was until last Tuesday when Everton inflicted the first Premier League defeat on Wenger's side since the opening weekend, which was followed up by a loss to Man City. Suddenly everything is threatening to unravel again - a season full of mostly highs has been blindsided by one bad week.
This term's European campaign has been going as well as expected, though, and the Gunners topped their Champions League group to reach the last 16 of the tournament, where they'll face German giants Bayern Munich.
Exceptional runs of form for Alexis Sanchez, Mesut Ozil and Theo Walcott mean that the side have also been fun to watch, so fans at the Emirates Stadium have certainly been getting their money's worth.
What does 2017 have in store? With Chelsea blazing ahead at the top of the table, the league title looks out of reach, however, the Gunners can reflect on the opening months of the campaign and have confidence going forward in the Champions League.
Here are TEN pictures that sum up Arsenal's season so far...
On their way
Arsenal fans had to endure a slow start to their team's season. A defeat to Liverpool and a bore 0-0 draw at Leicester left many fearing an extended run of bad form.
Yet, the Gunners hit back the next week, winning 3-1 away to Watford thanks to first-half blitz that was capped off by Mesut Ozil (celebrating above). It was the first of his many goals this season.
Hitting their stride
Arsenal were starting to look like real contenders by the time they'd been to Hull. Picking up their first win by three or more goals of the season, they destroyed the Tigers on their own patch thanks to Theo Walcott, a Sanchez double and Granit Xhaka's last minute effort.
Arsenal would score 16 goals in five matches in the month of September, showing they were around to do business.
City slickers
When Arsenal welcomed Chelsea to the Emirates Stadium in a London Derby, nobody predicted that the Gunners would destroy their city and league rivals in the manner they did.
A 3-0 demolition, Arsenal's big stars all turned up and sent Chelsea packing knowing that they must make a drastic change in order to move forward.
As you can see, Alexis Sanchez was delighted.
Gunners' grit
Free-flowing in September, Arsenal started October in an entirely different but equally positive fashion.
A determined Burnley side kept the Gunners out for 90 minutes before this flick-on from Walcott found Laurent Koscielny, who stuck the ball in the back of the net for a crucial three points.
Last minute wins are always satisfying but this one showed that Wenger's side might just be up for the title fight.
Easy for Ozil
Mesut Ozil had the honour of taking the match-ball home after a sensational performance against Ludogorets Razgrad in the Champions League.
His second half hat-trick contributed to a massive 6-0 win and sent supporters home delighted and safe in the knowledge that Arsenal were all but certain to qualify for the knockout phase of the competition.
Immovable
Like Koscielny's last minute winner at Burnley, this last minute equaliser from Olivier Giroud at Man United showed that Arsenal were not going to be beaten easily.
It was going to take a monumental effort to see the Gunners off and they were going to fight until the very end regardless of opposition or venue.
This goal ensured Arsenal had gone 17 games undefeated in all competitions. Things were looking good.
European dreaming
Lucas Perez emulated Mesut Ozil's Champions League hat-trick with one of his own away to Basel earlier this month. It was an impressive 4-1 victory away from home and meant that Gunners ended the group stage of the UEFA Champions League undefeated, taking 14 points from 18.
It'll give them confidence heading into the knockout stages where they face the mighty challenge of Bayern Munich.
Defeated
Ashley Williams' late winner for Everton inflicted defeat on Arsenal for the first time since the opening day and couldn't have come at a worse time, given Chelsea's form in the league.
It was the first sign that Arsenal's same old Premier League woes and problems with wining under pressure were coming to the fore again.
Double dismay
Manchester City piled more misery on Arsenal fans with a second half comeback at the Etihad to leapfrog Wenger's side in the table and push them down to 4th by the time Monday ended.
Now nine points behind league leaders Chelsea, it's a long way back if they're to challenge for the title in May.
It looks like top four may be the best Arsenal fans can hope for in the league once again.
Frustration
After a season full of positivity, to see it all hit the buffers at a key point must be a source of massive frustration for Arsene Wenger.
It looked for a while this season that everything may finally have clicked into place.
Still, there's plenty to look forward to in the new year with massive European fixtures to come and the FA Cup to focus on.
And, if they can go on another lengthy unbeaten run in the league, you never know... you just never know...