During that period Wolves have only found the net on two occasions and as a result, McCarthy has conceded that they are now entering a "must-win stage" of the season.
"There's nothing wrong with the Wolves spirit that's for sure," he told the club's official website. "Whether we deserve to have lost the five games is something for everyone else to argue about, but the spirit, endeavour and effort is always there.
"There's pressure on every game but I'm not here talking about me feeling it anymore than anybody else.
"But we're getting to the stage where we have to get results and are almost at that must-win stage."
Wolves currently sit two places above the relegation zone.