The Gunners are now third ahead of Spurs after victory over Newcastle.
Before the game, Sherwood said: “Yeah I think [Tottenham] will [finish in the top four].
“What alarms me, and you keep alluding to it, is if Arsenal win their game in hand against Newcastle, which I think they will.
“For Arsenal to finish above Tottenham, when we thought the pendulum had swung the other way, for a new manager to go in and hardly strengthen his squad, for them to finish above Tottenham would be unthinkable.
“To go into this stadium and play Thursday night in the Europa League, it's unthinkable."