It's clear that Arsenal need to strengthen in January.
After back-to-back defeats in Unai Emery's first two Premier League games, the Spanish manager then saw a huge upturn in form.
Arsenal went on a 22-game unbeaten run and looked as if they would strongly challenge for a place in the Premier League's top four.
However, a shock defeat to Southampton earlier this month ended that run and Arsenal have since been beaten by Tottenham and Liverpool.
Their most recent defeat, a 5-1 defeat to Liverpool on Saturday, highlighted that Arsenal need to strengthen badly.
Their forward options are more than adequate; Arsenal have scored 42 times in the league this season, the fourth most in the league.
But their defence is letting them down. They've conceded 30 times in 20 games, giving them the joint-11th best defence in England's top tier.
It was hoped that Emery would be given the money needed to strengthen in January, particularly in defence.
However, it appears he won't receive such backing.
According to David Ornstein of the BBC, Arsenal do not have significant funds to spend in the upcoming transfer window.
He writes: "Any permanent acquisitions, loan fees and salaries will be drawn from a modest budget and therefore loan deals are more probable, with out-of-favour Barcelona midfielder Denis Suarez, 24, among those under consideration.
"That budget is likely to increase substantially in the summer.
"There is no indication Arsenal owner Stan Kroenke will inject any of his personal wealth.
"Kroenke providing external resources for player recruitment could also raise potential issues with Arsenal's ability to comply with football's Financial Fair Play rules and Premier League regulations limiting how much a wage bill can increase year on year."
So it seems that Arsenal's squad will more or less be the same come the end of January.
It's fair to say that is not what Arsenal fans were hoping for.
Many fans replied to Ornstein on Twitter and many aren't too happy what-so-ever.
There is good news, though, with Ornstein confirming that the club will have a larger budget in the summer.
Do you think Arsenal have the squad capable to finish in the top four? Have your say by leaving a comment below.