West Ham's 3-1 victory at Fulham in the early Boxing Day kick-off meant Wanderers and Wigan went into their clash at Molineux knowing defeat for either team would see them occupying 20th spot.
It was McCarthy's men who found themselves in last place at the final whistle after suffering a 2-1 loss but the 51-year-old is not about to start getting down about things while there is still more than half the season to play.
"There is only one way for us to go at this moment in time with the games we have got remaining and that is up," McCarthy said of Wolves' position in the table.
"I know ultimately there are two ways we can go but at the moment there is only one."
Source: PA
Source: PA