The Frenchman does concede, however, that the defeat raises some serious questions and insists that his side must respond against Manchester United.
A stunning opening 20 minutes from the home side left Arsenal trailing by four, and the defeat caps the worst possible start to a nightmare fixture list.
However, when asked whether the North London club can still win the title Wenger is quoted as saying on Arsenal.com: "Of course because, no matter what happens, it will be mathematically possible.
"It's always what you make of the defeats that decides your future and tonight we have a lot to answer for and a lot of answers to find."
Despite the crushing defeat, one positive deflated Gooners may look to is how they responded to similar humiliation against Manchester City.
After losing 6-3 to City, Wenger's men went on to take 20 points from 24 possible.
Wenger sees the similarities but insists they must find out why they were so below-par.
"It was a similar situation against City, Saturday morning, 12.45 and early goals," he said.
"We have to analyse well what happened, why it happened but we didn't look sharp physically as well.
"I can completely understand that people will raise questions. We only have one way to respond answer that - which is on Wednesday night."
And Wenger will have to analyse thoroughly as Arsenal face another difficult challenge on Wednesday night when champions Man United visit the Emirates.