Yes. Only this time he isn’t going to rebound.
I assume you are referring to Clinton's re-election after losing the House.
I agree.
Clinton pivoted to the right following that defeat ("The Era of Big Government is over").
Obama has doubled down on his progressive policies, going further left toward an expansion of governmental power, seated in the Executive. Last week's pronouncement on immigration is an example.
This leftward drift may please his base, but is isolating him from the rest of the country, which I still believe is oriented center-right.
And then there is the economy.